Bid for Millennium & Copthorne raised

Millennium & Copthorne’s stock jumped 6.1pc to 613.5p as the hotelier’s majority-owner upped its offer to buy out other shareholders to 620p. Kwek Leng Beng, the Singaporean billionaire, who owns 65.2pc of M&C, had offered to buy the rest for 545p a share, valuing the business at £1.8bn. The new offer values it at more than £2bn.