European Indexes End Mixed

Investors appeared to be taking profits Monday after recent gains

London: The FTSE 100 closed in the red Monday as profit-taking at home and subprime worries across the Atlantic weighed. Wall Street was trading lower. However, the negative impact was limited by strong chemicals after ICI (ICI) (+15.76%) confirmed it had rejected a £6/sh bid approach from Akzo Nobel (AKZOY). The stock soared on hopes of a bid war, with a broker talking of £7/sh or even £7.50/sh as fair value. Dow Chemical and DuPont, as well as BASF (BF), are mentioned as potential counter-bidders.

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