Aston Martin shares rally as reports of F1 billionaire bid accelerate

Aston Martin’s share price has received a welcome boost after reports that the owner of a Formula One racing team is set to snap up a signficant stake in the company.

Shares spiked by 18% on Thursday as rumours that Lawrence Stroll, the owner of Racing Point, were reported in Autocar.

By the end of the day, Aston Martin’s share price was up to 595p.

Industry insiders are speculating that the move could lead to Stroll renaming his Formula One team as Aston Martin.

Both Stroll and Aston Martin declined to comment on the rumours.