Copy Hyperlink From Website To Excel Spreadsheet Not Working

Normally, when you insert something that should be a hyperlink, such as any word with a www. infront of it (such as www.microsoft.com) it shows as a hyperlink in the excel spreadsheet cell.

However, when copying a hyperlink from a website to the excel spreadsheet, for instance, it no longer comes out as a hyperlink on the excel spreadsheet cell (even though it was doing so previously, and was doing so automatically).

Are there any settings on Excel (2007) which can be reset, so that this function works correctly?

Would appreciate feedback.

Thanks
Ashley