Verizon Communications would mainly pay in cash and shares.

Mining stocks were performing well this morning after data from China impressed. Vedanta Resources was a high riser after Liberum Capital upgraded the stock to ‘buy’, with Anglo American, Glencore Xstrata and Antofagasta following closely behind.

Diversified mining group Rio Tinto was also in demand after loading the first shipment of iron ore from its expanded port, rail and mine operations in Australia. Rio said this was a “significant milestone” and marks the start of commissioning of the expansion programme, which is expected to see the company’s iron ore operations in Western Australia increase capacity to 290m tonnes a year.

Oil stocks were out of favour as crude prices edged lower. West Texas oil continues to pull back after hitting a two-year high last week on concerns that tensions in Syria could spill over to surrounding regions, leading to potential supply disruptions across the Middle East. Producers BP and Amec were in the red early on.

Tullow Oil however managed to buck the trend, rising in morning trade despite saying it has plugged and abandoned its Buzio-1 exploration well offshore Mozambique after failing to encounter hydrocarbons.

Source: ShareCast