Business

London Market Report

(Close): Renewed takeover talk surrounding medical devices maker Smith & Nephew pushed its shares up 3.6%.

Its shares had jumped sharply on Wednesday on reports that US rival Stryker was planning a bid, although this was then denied by Stryker.

The benchmark FTSE 100 index was up 20.07 points at 6,871.29.

Shares in B&Q owner Kingfisher fell 4.9% despite it reporting a 20% rise in retail profit to £142m for the 13 weeks to 3 May.

The profit figure was slightly below City forecasts of £145m, and Kingfisher said profit margins fell 2% in the UK.

Shares in power provider Aggreko were down 4.5%. The company announced on Thursday that British Gas boss Chris Weston was to be its new chief executive. Shares in Centrica - the owner of British Gas - rose 1.66%.

On the currency markets, the pound was flat against the dollar to $1.6716 but fell 0.09% against the euro to 1.2284 euros.