Shares in British china group, Royal Doulton, rose by 17 per cent to 89p sterling yesterday. The shares had been in the doldrums following the publication of poor results and the non-emergence of a "white knight" following the acquisition of a 14.9 per cent stake by Waterford Wedgwood.

The shares are still below the 90p per share paid by Waterford Wedgwood last November. At that time Waterford said it did not anticipate making a bid unless one of its rivals made a move.