Miners have been given a lift by yesterday's news of a near doubling in iron ore prices, with the sector also seeing a smattering of bid speculation.
Rio Tinto has risen 50p to £60.24 after it won the price increase for delivering ore to China. This has also benefited Ferrexpo, up 6p to 406p, and BHP Billiton, 8p better at £19.16.
On the speculative front, dealers heard vague talk of a possible bid by Xstrata, down 126p to £41.55, for Aquarius Platinum. This did little for the latter's shares however, as they fell 7.5p to 809.5p.
Debt laden retailer Debenhams has brought forward its trading statement from next week, but the market seems unsure what to make of it. After bouncing in early trade, its shares are now down 0.25p at 42p. In a sell note, Citigroup said: "With deteriorating macro conditions, the heavy debt burden and risk of covenant breach will likely continue to limit any near-term share price support."
Other companies with large borrowings were under the cosh. Pub group Punch Taverns - a weak market of late - has fallen nearly 10% to 305.25, while directories group Yell is down 12% at 71.5p.
Overall the FTSE 100 is down 68.9 points at 5598.3.
