The FTSE 100 had gained one per cent by Tuesday lunchtime as traders made up for lost time following a long four-day weekend for the Easter holidays.Telecoms giant Vodafone was leading the risers on London's benchmark index on the back of speculation that it could be involved in the biggest M&A deal on record.While Cyprus remains firmly in the spotlight, traders had to list of barrage of economic data out from the wider Eurozone this morning. The jobless rate across the single-currency region was unchanged at 12% in February. Meanwhile the manufacturing sector contracted further in March with the purchasing managers' index (PMI) falling to a three-month low of 46.8. In the UK, the manufacturing PMI also declined further to 48.3.Stock futures Stateside were pointing to a strong start on Wall Street ahead of US auto sales and factory orders data out in the next hours.Cyprus to ask for more timeEven though Cyprus has already been granted an extension from 2016 to 2017 to achieve a primary budget surplus, government spokesperson Christos Stylianides said they hope to negotiate an additional year to achieve the targets. Government officials are expected to speak with the Troika sometime this week before Eurozone finance ministers meet on April 12th.Markets across the globe have been sensitive to developments in the Mediterranean country over the last few weeks after an 11th-hour €10bn bailout from international lenders included forced losses on uninsured depositors through the restructure of two of Cyprus' largest lenders.It was announced on Saturday that depositors with over €100,000 in Bank of Cyprus would receive shares in the financial institution in exchange for 37.5% of their uninsured deposits. In addition to the haircut, another 22.5% of those deposits will be frozen in a non-interest bearing fund to serve as a capital buffer. FTSE 100: Vodafone gains on Verizon speculationVodafone was a high riser after reports that Verizon Communications and AT&T are working on a break-up bid for the British telecoms firm. According to FT Alphaville, sources say an offer would be pitched at a 40% premium to current prices which would put Vodafone's enterprise value at a whopping $245bn.Steelmaker EVRAZ slumped after signing an agreement to buy a majority stake in the OSJC Timir iron ore project in Russia for $160m. Meanwhile, sector peers Glencore and Xstrata were higher after saying that discussions with China regarding the regulatory approval of their merger are in the "final stages".Pharma giant AstraZeneca was in the blue after JPMorgan Cazenove upgraded it from 'underweight' to 'neutral'. Astra also said this morning that it is considering appealing a US court decision that its patent protecting its medicine Pulmicort Respules in the nation is invalid.Shares in engineering group IMI were under pressure after Goldman Sachs cut its rating on the stock from 'buy' to 'neutral', saying that it is no longer materially mispriced after its strong re-rating.Oilfield services group Petrofac rose after the announcement of a $500m three-year offshore contract in Abu Dhabi.FTSE 250: ICAP up after eSpeed dealInterdealer broker ICAP was making gains after NASDAQ OMX announced that it is to spend $750m buying the eSpeed platform from sector peer BGC Partners.Support services and construction group Interserve also rose after being awarded a three-year management contract with nuclear power station operator Magnox worth £80m.FTSE 100 - RisersVodafone Group (VOD) 196.10p +5.09%Rexam (REX) 544.50p +3.22%easyJet (EZJ) 1,111.00p +2.87%SABMiller (SAB) 3,536.50p +2.09%BG Group (BG.) 1,152.50p +2.08%British American Tobacco (BATS) 3,593.50p +1.89%Admiral Group (ADM) 1,357.00p +1.88%Experian (EXPN) 1,161.00p +1.84%InterContinental Hotels Group (IHG) 2,044.00p +1.84%Sainsbury (J) (SBRY) 385.30p +1.80%FTSE 100 - FallersEvraz (EVR) 214.90p -3.20%Eurasian Natural Resources Corp. (ENRC) 238.80p -2.97%Antofagasta (ANTO) 959.00p -2.54%Vedanta Resources (VED) 990.50p -1.44%Randgold Resources Ltd. (RRS) 5,625.00p -0.97%Weir Group (WEIR) 2,243.00p -0.88%Prudential (PRU) 1,057.00p -0.75%IMI (IMI) 1,287.00p -0.62%Shire Plc (SHP) 1,992.00p -0.60%Wood Group (John) (WG.) 861.50p -0.58%FTSE 250 - RisersFirstGroup (FGP) 215.00p +6.91%ICAP (IAP) 309.90p +6.71%Morgan Advance Materials (MGAM) 298.20p +5.59%BBA Aviation (BBA) 271.00p +5.24%New World Resources A Shares (NWR) 230.70p +4.72%International Personal Finance (IPF) 462.60p +3.96%888 Holdings (888) 174.50p +3.87%Redrow (RDW) 194.90p +3.78%Ashtead Group (AHT) 608.50p +3.75%Kenmare Resources (KMR) 30.04p +3.59%FTSE 250 - FallersHiscox Ltd. (HSX) 567.00p -8.08%Petropavlovsk (POG) 210.30p -5.74%Ferrexpo (FXPO) 164.50p -4.97%Kazakhmys (KAZ) 376.70p -4.00%Alent (ALNT) 367.60p -2.65%Hochschild Mining (HOC) 268.70p -1.90%BH Global Ltd. USD Shares (BHGU) 11.8 -1.67%Daejan Holdings (DJAN) 3,598.00p -1.42%Imagination Technologies Group (IMG) 486.80p -1.30%RPC Group (RPC) 392.80p -1.18%BC