LONDON (ShareCast) - Anglo American (LSE: AAL.L - news) is the best performer on rumours that Xstrata (LSE: XTA.L
- news) 's merger approach has alerted Vale from Brazil and Rio Tinto (LSE: RIO.L - news) 's erstwhile partner Chinalco to the possibility that a deal could be done.
Elsewhere in the sector Kazakhmys (LSE: KAZ.L - news) is in demand as metal prices head north.
Lonmin (LSE: LMI.L - news) has also moved forward on an encouraging update on its furnace problem. A water leak has been identified as the cause of the matte run-out which forced the closure of Lonmin's Number One furnace. The leak was found in one of the lower copper cooling waffle units above one of the matte tappe blocks. The leaky unit is being replaced and an enquiry into the cause of the leak is underway.
The company is on course to reopen the furnace within the previously indicated 30-day time scale. "Our initial total cost estimate for the repair of the furnace and the extra costs of running our Pyromet furnaces is around $4m," the company said in a statement.
FTSE 100 - Risers
Anglo American (AAL) 1,732.00p +4.84%
Barclays (LSE: BARC.L - news) (BARC) 269.40p +4.00%
Kazakhmys (KAZ) 613.00p +3.99%
Lonmin (LMI) 1,175.00p +3.62%
Smiths Group (LSE: SMIN.L - news) (SMIN) 703.00p +3.53%
Standard Chartered (LSE: STAN.L - news) (STAN) 1,175.00p +3.52%
Thomas Cook Group (TCG) 206.75p +3.38%
Balfour Beatty (LSE: BBY.L - news) (BBY) 308.00p +3.27%
FTSE 100 - Fallers
Friends Provident Group (FP.) 65.84p -4.58%
Man Group (LSE: EMG.L - news) (EMG) 276.25p -3.75%
Experian Group (EXPN) 445.50p -2.89%
TUI Travel (LSE: TT.L - news) (TT.) 226.75p -2.89%
RSA Insurance Group (RSA) 122.10p -1.77%
Centrica (LSE: CNA.L - news) (CNA) 226.25p -1.74%
Tesco (LSE: TSCO.L - news) (TSCO) 356.30p -1.74%
Admiral Group (LSE: ADM.L - news) (ADM) 855.50p -1.55%
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