FinnCap in early takeover talks with Panmure Gordon

Investment bank FinnCap confirmed on Tuesday that it has received indicative non-binding takeover proposals from rival Panmure Gordon.

Responding to press speculation, FinnCap said talks between the two are still at an early stage.

"There can accordingly be no certainty that any offer will ultimately be made for the company, nor as to the terms on which any offer might be made," it said.

It added that further announcements will be made in due course as appropriate.

At 0818 BST, FinnCap shares were up 33% at 18.00p.