Lonmin offer lifts FTSE

In London, markets climbed further as a possible takeover of Lonmin hit the news, with the FTSE 100 index rising 31.6 points (0.58%) to 5,486.1.

Lonmin shares made major gains, adding £11.07 (47.74%) to its share price after news of a £5bn offer, leaving shares at £34.26. Johnson Matthey added 107p (7.09%) to £16.16.

Old Mutual lost 12.1p (11.37%) to 94.3p, while Liberty International dropped 70p (7.22%) to 900p.

On Wall Street, share prices fell slightly after making large gains during Tuesday, with the Dow Jones down 22.8 points (0.2%) to 11,592.97.

Microsoft made the biggest gains, up 0.61 (2.31%) to $26.82, while Caterpillar Inc added 1.25 (1.83%) to $69.43.

General Motors shares slipped after making a minor comeback yesterday, down 0.51 (4.78%) to $10.18, and American Express lost 0.71 (1.83%) to $38.01.

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