Deutsche Post bid rumours lift Exel

Shares in Exel hit a three-year high, up 5 per cent at 894 1/2p for the week, on rumours the logistics group could face a bid from Deutsche Post. Traders became excited after Europe’s largest postal group said it would seek to more than triple the number of shares it could issue to fund potential acquisitions. But though there was some substance to the speculation, with trading volume for Exel on Monday more than twice the daily average, shareholders should note that just last month a DP executive told the Financial Times the company was not interested in such a deal.