American Express Co shares rose more than 1 per cent on Monday after Fox Business News reported that the credit-card company might be acquired by Wells Fargo & Co or another financial firm.

American Express shares closed up 1.2 per cent at $59, after hitting a session high of $59.48.

A Wells Fargo spokesman said the report is not true. An American Express spokeswoman said the company does not comment on rumors or speculation. – Reuters