Smurfit Kappa Group plc (‘SKG’) today confirmed that negotiations are progressing with paper and packaging group Mondi that would involve SKG acquiring Mondi Group’s corrugated operations in the UK and Mondi Group acquiring SKG’s European sack converting operations.

Pub groups and mining stocks led a rally on the London market today, adding to the boost from an overnight surge on Wall Street.

ANGLO American, the world’s third-largest miner, said yesterday it would return $3 billion (€2.28bn) to investors as it posted a 46% rise in annual net profit, below the average forecast.

MINER Anglo American has received bid approaches from at least two private-equity consortiums for its paper and packaging division Mondi, which it plans to list, the Sunday Times has reported.

The FTSE 100 Index slipped into the red today as it gave up early gains which had seen it power through the 6000 mark.

More than £2.1 billion was added to the value of Prudential today after Aviva published terms of its plan to create the world’s fifth largest insurer.

Investors speculating on a takeover of Standard Chartered sent shares in the bank to a record high and helped London's FTSE 100 Index to rack up fresh gains today.

Excitement over possible corporate developments at Standard Chartered and Anglo American gave impetus to the FTSE 100 Index today.

Mining giant Anglo American was today said to be preparing to break itself up.