Discount retailer B&M saw its share prices rise by as much as 5.3% after a report suggested that Asda, the UK supermarket arm of Wal-Mart, was considering a £4.4bn takeover bid. The Sunday Times said applying a normal takeover premium would take Asda's offer price to at least £4.4bn, however independent retail analyst Nick Bubb commented that "if the City really believed the Sunday Times story about an Asda bid the shares would be a lot higher."