Mining group Eurasian Natural Resources Corporation - a recent entrant to the FTSE 100 - has been given a deadline of next Friday to either make a bid for rival Kazakhmys or walk away. Ahead of this there have been various rumours about what it will do.
Earlier this week there was talk that a bid from ENRC was unlikely, and that Kazakhmys would sell its 14.5% stake in its supposed predator.
Today came the suggestion that ENRC was still interested, and indeed was on the verge of a £25 a share offer. So Kazakhmys has climbed 169p to £19.07 while ENRC is 56p better at £12.72.
This has helped push the FTSE 100 into positive territory, up 2.1 points to 6263.1, as has a recovery on Wall Street, which is now up around 50 points.
