Scottish Power Higher; E.On To Redirect?

Scottish Power (SPW.LN) +1.7% at 626p as market begins to speculate E.On (EON) "will now focus attention on a bid elsewhere" after Acciona's (ANA.MC) move to increase its stake in Endesa (ELE) to 25%. E.On is currently vying with Gas Natural (GAS.MC) to buy Endesa, and would have to increase its offer to win the company, as it needs to reflect the price at which Acciona is buying shares, says an analyst. Another says the Scottish Power share price reaction is logical, given an E.On Endesa tieup now looks less likely, and E.On made a bid for Scottish Power (SPW.LN) "this time last year." E.On declinesto comment. (PBA)