Pumps group Weir is due to report results on Tuesday and its shares have jumped more than 3% ahead of time.
But the rise is as much to do with renewed takeover speculation as with anticipation for the half year figures. Weir is 53p better at £17.12, the second biggest riser in the FTSE 100, following talk that recent weakness had left it vulnerable to a bid. The likes of Siemens or GE have been mentioned as possible predators.
On a more fundamental note, Goldman Sachs has repeated its conviction buy on the shares.
Overall the market has maintained its early gains, with the FTSE 100 up 29.13 points at 5656.34 on optimism that progress is being made in the eurozone crisis. Much is being pinning on the European Central Bank's meeting on Thursday, however, so there is scope for disappointment.
Elsewhere National Grid has edged up 2.5p to 664p after it said it had started the year well, with a solid performance in the four months to the 29 July. Chief executive Steve Holliday said:
We are working with [regulator] Ofgem to secure appropriate long term financing frameworks for our regulated businesses.
On Friday the regulator published new proposals for price controls for its UK business, including plans for around £35bn of expenditure. Angelos Anastasiou at Investec said the initial price controls had disappointed the market:
We see these proposals overhanging the stock until the final proposals are released in December, and we remain wary.
