Genus shares jump on bid talk

RUMOUR OF THE DAYSHARES in animal genetics company Genus jumped more than 8 per cent at one point in heavy volumes yesterday on market talk of an impending bid at 1,300p a share, traders said.

Genus declined to comment on the market speculation.

By the close of play, shares in the group were 2.4 per cent, or 20.5p, higher at 888.5p. They lost ground sharply after a regulatory filing showed that 67,700 shares had been sold on behalf of chief executive Richard Wood.

Four times the 30-day daily average volume had changed hands by about 4pm yesterday.

Headquartered in Basingstoke, Genus businesses operate in 30 countries on six continents, with research laboratories located in Madison, in the US.