Leading stocks came off the top at the end of the morning session, but risers still outnumber fallers by three to one among FTSE 100 constituents.

British Airways is soaring after getting the green light from US regulators for its tie-up with American Airways and Iberia. The plan would see the airlines share costs, but they also have to give up four transatlantic take-off and landing slots.

Having been knocked for six on Friday by China's surprise decision to bump up the reserves requirement for its banks, miners are clawing back losses today. Rio Tinto, Xstrata and Fresnillo are the best of a strong bunch.

Barclays is going higher ahead of what are expected to be bumper results tomorrow. Attention will be firmly on how much it pays out in bonuses.

Elsewhere in the financial sector the buzz around industry consolidation continues to drive demand for insurers Legal & General and Aviva.

Interdealer broker ICAP says it is conducting a broad ranging strategic review of some of its cash equities businesses. The Sunday Times reported yesterday that chief executive Michael Spencer is planning to distance the company from the cash equities business, which involves about 200 brokers in the company's voice broker arm. Unspecified sources told the paper that ICAP would either wind down the business, go into partnership with another cash equities firm or sell the business.

Support services group VT has raised its offer for contractor Mouchel by about 15% to 294p per share based on last week's closing prices. The offer now comprises 0.579 of a VT Group share for each one of Mouchel, with a 50% cash alternative. The latest proposal includes Mouchel's interim dividend. Mouchel says it is considering the proposal and consulting with key shareholders.

Verizon Wireless, in which the UK mobile phone giant Vodafone has a 45% stake, and nPhase, a joint venture between Verizon and Qualcomm, have teamed up to try and accelerate the adoption of global machine-to-machine (M2M) technology. The M2M devices allow companies like utility firms to collect meter data. The trio said their strategic alliance would simplify the remote management and monitoring of devices spread across both European and US networks.

Financial trading software specialist Fidessa reported a 31% increase in pre-tax profits and declared a 40 pence special dividend. Adjusted pre-tax profits rose to £36.2m in the year ended 31 December compared with £27.6m last time. Revenue was up 26% to £239m, helped by the weak pound.

Biological fertiliser maker Plant Health Care reduced full year losses and increased revenue, adding it is poised for further progress. The group said pre-tax loss narrowed to $1.3m from $4.2m in the year ended 31 December 2009. Revenue for the year rose 16.9% to $23.2m.

Rugby Estates Investment Trust said it is in preliminary discussions with ING UK REIT with respect to a possible offer for the company.

Health club bookings software provider Gladstone said talks have terminated with a third party that had made an indicative offer of 33 pence per share, but the group said it is still in discussions with other third parties regarding a potential offer.

FTSE 100 - Risers
British Airways (BAY) 202.80p +3.73%
Rio Tinto (RIO) 3,315.50p +3.42%
Xstrata (XTA) 1,037.00p +3.18%
Barclays (BARC) 269.85p +3.00%

FTSE 100 - Fallers
BT Group (BT.A) 120.70p -1.47%
Kingfisher (KGF) 207.30p -1.10%
Unilever (ULVR) 1,850.00p -0.91%
ARM Holdings (ARM) 195.60p -0.91%

Related share prices
Barclays (BARC) share price
British Airways (BAY) share price
Aviva (AV.) share price
Legal & General Group (LGEN) share price
Rio Tinto (RIO) share price
Vodafone Group (VOD) share price
ICAP (IAP) share price
Fidessa Group (FDSA) share price
VT Group (VTG) share price
Xstrata (XTA) share price
Mouchel Group (MCHL) share price
Plant Health Care (PHC) share price
Fresnillo (FRES) share price