FTSE surges on banks' bid rumours

Kazakhmys gained 9.28% to 1,042p on news it pencilled in higher production of copper in 2006 than last year, despite a slow start to the year. The news led the rest of the sector higher with BHP Billiton up 4.74% to 1,071.50p, Rio Tinto up 5.30% to 2,981p and Anglo American up 4.51% to 2,246p. Alliance & Leicester rose 2.27% to 1,217p as rumours Credit Agricole is planning a bid continued to do the rounds. It is rumoured A&L has been offered 1,300p per share, which it rejected, but an offer of 1,500p might be accepted. Abbey owner Banco Santander is also said to be considering maki...