BHP Billiton

BHP BUY COULD DRIVE M&A

BHP Billiton has abandoned its hostile $40bn takeover attempt for Canada's Potash Corp, after failing to overcome government opposition to the deal.

The FTSE 100 opened up 0.18% or 9.37 points to 5,204.65 boosted by bid activity in the financial sector.

Miners dragged on the FTSE 100 opening this morning following BHP Billiton's $40bn hostile takeover bid for Canadian group Potash Corp.

The FTSE was off 0.83% at 5365.96 points this morning despite the largest miners regaining some of the ground they lost yesterday.

The global recovery is well in line with forecasts for 2010, 2011 and 2012 looking for growth of around 4% in each year.

The FTSE opened marginally higher this morning, rising by 18.7 points, or 0.4%, to 5333.79.