Published On: Tue, Aug 11th, 2015

MARKET REPORT: Shire share price on the rise amid takeover talks

DRUGS giant Shire improved 80p to 5380p on hopes it would secure support for a takeover of £20billion US biotech takeover target Baxalta.

Talk of fresh stimulus measures to kickstart top metals consumer China’s economic growth boosted miners Rio Tinto and BHP Billiton, up 47½p to 2635p and 18p to 1209p, while an easing of interest rate hike fears lifted builders Taylor Wimpey and Barratt Developments, up 2¼p to 201¾p and 7p to 654p.

Nostrum Oil & Gas was 29p slicker at 548½p after it opened exclusive talks over a possible takeover of Tethys Petroleum, 0.38p higher at 7¾p, but North Sea-focused Independent Oil & Gas plunged 6.12p to 5.63p after a would-be backer pulled out.

Budget African airline Fastjet flew 2½p higher to 89½p after record passenger numbers in July, while Amur Minerals, which has a nickel project in Russia, struck it ¾p richer to 17p after an agreement which will help attract financing from Russia, India and China.

Fitness gadget maker Fitbug was 1p out of shape at 3p after a £1.66million fundraising including a placing at 2½p.
Daily Express :: Finance Feed

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