City sources11 Mar 2017 08:40
The FTSE 100 index climbed 0.4 per cent, or 28.1 points, to 7,343.1. It was helped by a later surge from BP, which gained on speculation that the oil giant might be in line for a huge deal.
City sources claimed yesterday afternoon that ExxonMobil could be sounding out shareholders ahead of a possible takeover.
Gossips were suggesting a price of more than 600p a share or nearly £120billion, making it the sector's biggest-ever tie-up.
It was claimed that Shell would also throw its hat in the ring if Exxon made a move.
All firms involved dismissed the suggestions as speculation and stressed that similar rumours had been circulating for years.
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