FTSE drops despite C&W gains

Cable & Wireless has jumped 3.5p, or 2.89%, to 124.5p, after reports stated the company believes it is a ``certainty'' that private-equity funds are considering a takeover offer for it. Antofagasta is also on the rise with gains of 20p, or 1.35%, to 1,500p. Meanwhile, AstraZeneca, the country's second-biggest drugmaker, has fallen 27p, or 1.04%, to 2,568p, after Credit Suisse First Boston advised investors to reduce holdings in the stock. BAA is also getting off to a rocky start with a drop of 11p, or 1.72%, to 627.5p, closely followed by Anglo-American which has declined 25p, or 1.44%,...