At last, a true bit of Friday bid speculation. Traders were hearing suggestions of a possible bid for supermarket group J Sainsbury this weekend, with a price of 510p-525p a share being mentioned.
The talk was enough to push Sainsbury up 23.25p to 368.5p. Earlier it had fallen as low as 337.75p in the wake of yesterday's gloomy retail updates, including disappointing figures from Wm Morrison.
Last year the Qatari Investment Authority failed in a proposed offer, but is left with 27% and is free to bid again. Recent rumours have also suggested a link-up between Sainsbury and Marks & Spencer.
