Weir shares rise on bid speculation

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FTSE 100 Index

Last Updated at 06 Mar 2015, 11:36 ET *Chart shows local time FTSE 100 intraday chart
value change %
6911.80 -

Top winner and loser

Weir Group

1813.00 p +

Randgold Resources Ltd.

4581.00 p -
value change %

FTSE 250 Index

17272.21 -

FTSE 350 Index

3796.66 -

FTSE All Share Index

3728.95 -

FTSE Techmark Index

3815.40 -

(Close): Shares in engineering firm Weir Group rose following rumours it could be a takeover target.

Weir's shares were up 4.14%, the biggest riser in the FTSE 100, after two UK newspapers reported a US private equity firm was considering a bid.

Despite Weir's rise, the FTSE 100 closed down 49.34 points at 6,911.80.

The index was pulled lower by mining shares. Fresnillo dropped 5.09% and Randgold Resources fell 5.23% after the price of gold fell.

Outside the FTSE 100, shares in travel firm Thomas Cook jumped 24.54% after Chinese firm Fosun bought a 5% stake in the company.

Fosun, which recently bought France's Club Med, also intends to increase its stake to 10%.

On the currency markets, the pound fell 1.16% against the dollar to $1.5063, while against the euro it rose 0.39% to €1.3867.

Meanwhile, the dollar hit an 11-and-a-half year high against the euro.

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