Market roundup: Diageo spirits lifted on rumors of take over bid

Word that Brazilian billionaire Jorge Paulo Lemann may make a bid for alcohol producer Diageo - makers of Guinness, Smirnoff vodka and Tanqueray gin - pushed the company's stock to the height of the FTSE 100 Monday 8 June.

By the end of the day, the world's largest spirit producer's stock rose 6.7%. Rumours of the bid, however, remain unconfirmed after being published in Brazilian news magazine Veja last Friday.

Royal Mail also continued to perform well rising 1.48% on news that the government's remaining 30% publicly held interest in the company will be sold off.

After closing out at a two-month low of 6,804.60 last week, the FTSE 100 dropped slightly to 6,790.04, -0.21% overall.

Among the worst performers Monday was biopharmaceutical maker Shire, which dropped 2.75% despite an "outperform" rating from analysts at Sanford C. Bernstein, and other positive "buy" indicators, last Friday.

The stumbling block was a report that appeared in The Sunday Times that the company is considering an $18bn takeover of Swiss biopharmaceutical makers Actelion.

FTSE 100 biggest risers