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Mining merger hopes as market opens

Renewed hopes for a mining merger involving Xstrata and commodities trader Glencore added to the recently upbeat mood in the sector today.

With Glencore reviving the terms of its offer, Xstrata shares were 29p higher at 1042.5p as investors took the view that 3.05 Glencore shares for each of the miner's would be enough to secure the tie-up.

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