The FTSE 100 Index closed 21.7 points or 0.4% down at 5,725.1, by close of business on Wednesday, having earlier fallen as low as 5,681.9, as takeover activity partly offset tumbling prices for mining stocks such as Kazakhmys.
BAA soared more than 20% after Spanish construction giant Grupo Ferrovial said it was considering a bid as part of its expansion into in the booming European sector. BAA's shares closed 14.9% higher at 752.5p and boosted shares in other sectors long regarded as targets for mergers and acquisitions, such as utilities and banks. United Utilities gained 2.87% to 700p, Severn Trent rose 2.07% to 700p and bank Lloyds TSB was 1.72% higher at 533p, all on persistent bid talk. But miners and heavyweight oil stocks fell as investors adjusted their views on the sector following substantial losse...
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