FTSE 100 Live 29 May: Blue-chips slide, Ocado and St James' Place in for relegation

Royal Mail owner IDS today backed a £3.5 billion takeover by Czech billionaire Daniel Kretinsky.

The agreement with West Ham part-owner Kretinsky follows his company’s undertakings to protect Royal Mail’s “critical functions”.

In other City developments, BHP was turned down when it asked to extend the Anglo American bid timeline and Pets at Home has posted lower profits.