The FTSE 100 fell 1% on opening, with miners reacting to the news Xstrata has approached Anglo American over a merger.
The London blue chip index opened on 4,344 points, dropping to 4,298, before rallying slightly to 4,309 in early trading. Xstrata claims it is keen on a £41bn merger deal, which hit platinum miner Lonmin (in which it owns a stake), with shares falling 3.04% to 1,212p. However, Anglo American led the rising stocks, up 8.7% to 1,764.5p. Silver miner Fresnillo's share price also fell 3.27% to 548p. The Dow Jones closed on 8,540 points last week, 0.2% down on opening, after worse than expected unemployment figures published on Friday. IFAonline
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