Bid speculation boosts FTSE

Plumbing firm Wolseley has the biggest gains so far with a rise of 3.96% to £13.64, after rumours it has caught the attention of private equity bidders, while the mining sector is continuing to perform well after an increase in copper prices followed reports two mining firms may bid for US aluminium producer Alcoa. Vedanta Resources is up 2.3% to £12.43, closely followed by Antofagasta which is up 2.2% to 488p, while Anglo American has climbed 2% to £25.45, and Xstrata has advanced 2% to £24.52. On the downside, power group Drax is the biggest loser with a fall of 3.04% to 653.5p, whi...