Xstrata leads FTSE gains

Xstrata gained £1.60 or 7.47%% to £23.01 after Inco decided to pull out of the running to buy Canadian miner Falconbridge in order to focus on a merger with Phelps Dodge. Alliance & Leicester recovered from an early fall, ending up 19p or 1.8% at £10.63, after it reported a “satisfactory” set of half year results and said it was on track to achieve its strategic objectives for the year. Prudential was the worst performer, down 3% at 577.5p, after it released interim figures revealing a weaker than expected performance from its UK business. The news led Aviva down 0.4% to 724.5p, wh...