Talks news boosts Gucci

Gucci shares rose 6 per cent yesterday after Pinault-Printemps-Redoute, the French retail group, confirmed it was holding talks with LVMH, the luxury goods group, over acquiring majority control of the Italian fashion house. PPR said: "We confirm that discussions are currently being held." The group, controlled by Francois Pinault, proposes a three-step offer that would end a three-year feud with Bernard Arnault, founder of LVMH.