Peugeot shares boosted 12% on alliance talks

Peugeot shares have closed 12% higher after the firm said it was in talks about possible "co-operations and alliances".

France's labour minister said that Peugeot was in talks about a strategic alliance with General Motors.

Peugeot has warned the talks may not lead to a deal, but it is thought the two companies may team up on manufacturing in Europe, to reduce costs.

David Chazan reports.