Dow Jones and Reuters newswires quoted unnamed sources stating that a deal was near and an announcement imminent. Both RBS and Sempra declined to comment on the rumours.

Sempra Commodities, based in Stamford, Connecticut, is made up of Sempra Energy Trading and Sempra Metals, a major open-outcry ring dealer on the London Metal Exchange (LME). According to company reports, Sempra Commodities saw net income rise to $504million in 2006 from $460mn in 2005, due mainly to improved performance from