Burberry up on market talk of Coach bid

LONDON (Reuters) - Shares in British fashion brand Burberry Group (BRBY.L) gained nearly 5 percent on Wednesday as traders cited market talk of a possible takeover bid from U.S. handbag maker Coach Inc (COH.N).

Spokeswomen from Coach and Burberry both declined to comment on "market speculation."

But Coach spokeswoman Andrea Shaw Resnick noted that Coach has "consistently stated that we are not currently interested in making acquisitions and remain squarely focused on reinvesting in and growing our core business, where the opportunities remain abundant."

Burberry shares closed up 4.6 percent at 483.75 pence. Coach shares were up 0.7 percent at $36.31 in New York at midday.

(Reporting by Michael Taylor and Amanda Cooper; Additional reporting by Martinne Geller in New York)