The London market suffered a sharp sell-off this afternoon in spite of bid speculation adding more than £1 billion to the value of British Gas owner Centrica.

Record profits of £12.9bn (€19bn) from Royal Dutch Shell proved insufficient to send shares in the oil giant into positive territory today.

Chocolate maker Thorntons broke off takeover talks today after its chairman drastically reduced the amount that he was willing to pay for control.

A takeover proposal for chocolate-maker Thorntons was back on the drawing board today as more details emerged of the company’s poor recent trading.

Chocolate maker Thorntons today said annual results should hit market hopes as it reaped the rewards of a drive to sell its products through other retailers.