Sage share surge sets rumours running

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As the FTSE nose-dived in the wake of the Northern Rock crisis, Sage's share price led the index on Monday with a 2.7% gain that set off a flurry of takeover rumours. John Stokdyk reports.

It may have been more a sign of the City's fevered atmosphere than a solid bid, but someone was investing heavily in the last remaining UK technology company in the FTSE 100. One rumour suggested the Indian technology group Infosys was readying a bid, while Cap Gemini was another name said to be "doing the rounds".

A positive research note from Deutsche Bank may provide a more prosaic explanation for Sage's surge. The bank's analysts had ridden along with Sage chief financial officer Paul Harrison in a roadshow around eight institutional investors in Paris, where he emphasised the strength of Sage...

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