Miner rumours keep FTSE afloat

Rumours of a renewed bid by BHP Billiton has driven Rio Tinto higher, up 5.85% to Marks & Spencer is also ahead, up 4.95% to 419; while Xstrata is continuing the solid start for miners, up 4.91% to 3249. Financial stocks are struggling on the back of a warning from New Star, with ICAP down 4.15% to 623.50 and Schroders 4.08% lower to 1035. In New York, the Dow Joes fell as Federal Reserve chairman Ben Bernanke warned of the need to get the government financial rescue plan passed as soon as possible. The index closed Thursday down 306.95 points (2.46%) to 12159.21. Insurer American Inte...