FTSE on the rise

Xstrata leads the benchmark, up 35p to 1,308p. The mining firm has agreed to purchase a 19.9% stake in nickel producing Falconbridge from Brascan Corp, a Switzerland based company for $1.7b, to take advantage of record metals prices. Mobile incumbent Vodafone has added 4p to 152.75, despite analysts maintaining its overweight standings, however, Vodafone is reported to have launched its 3G enabled services in New Zealand. Its competitor O2 meanwhile is down 3p to 146.50p this morning, after a £14bn bid for the firm by Deutsche Telekom and KPN was put on ice, as the two bidders failed to...