Shares in clothing retailer Next added 3.3 per cent to top FTSE 100 index gainers and hit an all-time high following market rumours of a buyout.
Earlier this morning, Next shares were up 3.3 per cent at 2,300 pence after touching 2,320 pence.
The Financial Times reported today there were rumours an investment bank had joined forces with a private equity group to work on a leveraged buyout of the retailer.
Credit analysts at the Royal Bank of Scotland were sceptical, however.