Rumours that Guy Hands and Prince Alwaleed Bin Talal, founder and chairman of Kingdom Hotel Investments, and may be considering a takeover of Intercontinental Hotels sent it to the top of the FTSE 100 leaderboard yesterday. Daily Telegaph

Talk of a £16-a-share bid for the leisure group that owns the Crowne Plaza and Holiday Inn chains sent the shares climbing to as high as £14.19.

There has been speculation for months that the company, in which Telegraph Media Group owners Sir David and Sir Frederick Barclay have a 9.2% stake, is a takeover target.