Gains in the US last night help FTSE to a fast start

GKN jumps 20% on takeover approach

Shares in FTSE 100 engineer and aerospace company GKN jumped more than 20 per cent this morning as the company revealed it has rejected an unsolicited takeover offer from Melrose Industries.

The firm’s board unanimously rejected a bid received 8 January that valued the company at 405p per share.

Pound up half a per cent to $1.3607

Good day for sterling so far…. up 0.51% to $1.3607

Bovis Homes shares up 4% to 1196p

Bovis Homes has become the latest housebuilder to post a good trading update

The company said strong customer demand, attractive mortgage rates and Help to Buy are helping drive sales.

The average selling price on completion increased 7% to £272,000 with private average selling prices increasing by 9% to £334,000.

FTSE 100 up 0.15% to 7773


Posted on; DailyMail>>

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