London open: Markets rise after long weekend, Vodafone provides a lift

UK stocks began Tuesday's session with solid gains after the long Easter weekend with the focus once again turning to Cyprus ahead of meetings with the Troika this week. Even 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. Traders will also be keeping a close eye on economic data today with several key indicators due for release, including: manufacturing figures from the Eurozone and UK; the Eurozone jobless rate; German inflation; and US factory orders.Vodafone gains on Verizon speculationVodafone was a high riser early on 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.The company was also making headlines after this weekend slamming India's decision to ask it to rebid for spectrum licences, instead of automatically renewing them. Vodafone sent a letter to the government saying that the decision suffers from "fundamental flaws, contradictions, jurisdictional errors and errors apparent on the face of the record".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 saying it is considering appealing a US court decision that its patent protecting its medicine Pulmicort Respules in the nation is invalid.Interdealer broker ICAP was making gains after NASDAQ OMX announced that it is to spend $750m buying the eSpeed platform from sector peer BGC Partners.FTSE 100 - RisersVodafone Group (VOD) 193.00p +3.43%Rexam (REX) 541.50p +2.65%Admiral Group (ADM) 1,366.00p +2.55%Associated British Foods (ABF) 1,938.00p +1.95%Experian (EXPN) 1,162.00p +1.93%InterContinental Hotels Group (IHG) 2,044.00p +1.84%SABMiller (SAB) 3,527.50p +1.83%easyJet (EZJ) 1,099.00p +1.76%Tullow Oil (TLW) 1,252.00p +1.71%Intertek Group (ITRK) 3,449.00p +1.65%FTSE 100 - FallersEvraz (EVR) 216.70p -2.39%Royal Bank of Scotland Group (RBS) 269.50p -2.18%Antofagasta (ANTO) 972.00p -1.22%Eurasian Natural Resources Corp. (ENRC) 243.80p -0.93%Weir Group (WEIR) 2,244.00p -0.84%Randgold Resources Ltd. (RRS) 5,645.00p -0.62%IMI (IMI) 1,287.00p -0.62%Prudential (PRU) 1,059.00p -0.56%Petrofac Ltd. (PFC) 1,426.00p -0.49%Rio Tinto (RIO) 3,072.50p -0.41%FTSE 250 - RisersFirstGroup (FGP) 216.20p +7.51%Redrow (RDW) 197.50p +5.17%ICAP (IAP) 304.10p +4.72%New World Resources A Shares (NWR) 230.10p +4.45%Anite (AIE) 129.90p +3.34%Thomas Cook Group (TCG) 116.00p +3.20%WH Smith (SMWH) 769.00p +3.01%Home Retail Group (HOME) 159.20p +2.58%William Hill (WMH) 379.30p +2.54%Phoenix Group Holdings (DI) (PHNX) 684.50p +2.47%FTSE 250 - FallersHiscox Ltd. (HSX) 571.00p -7.43%Kazakhmys (KAZ) 380.70p -2.98%Alent (ALNT) 368.90p -2.30%Wetherspoon (J.D.) (JDW) 525.50p -2.23%Ferrexpo (FXPO) 169.70p -1.96%Daejan Holdings (DJAN) 3,581.00p -1.89%Essar Energy (ESSR) 135.60p -1.74%Premier Farnell (PFL) 219.50p -1.61%Fidelity China Special Situations (FCSS) 90.60p -1.52%IP Group (IPO) 147.30p -1.34%BC