Headline shares closed the session firmly higher, although off best levels, with resurgent banks and mining stocks leading the charge, ahead of a busy week for company earnings news. At the close of business, the FTSE100 was up 30.2 points at 5,753.85 with the FTSE250 ahead 88.54 points at 10,690.08 and the FTSE Smallcaps 29.38 points better at 2,994.02. US stocks put in a mixed performance in late morning trade, with good results from Caterpillar leading the Dow higher but the broader market remaining subdued. Approaching the close in London, the Dow Jones Industrial Average was up 44 points at 11,248, the S&P500 was up a point at 1,218 and the Nasdaq Composite added 2 points at 2,532.

LONDON MARKETS

Trade in London was positive throughout the day. Resurgent mining issues helped lead the main index higher as metals prices improved on renewed hopes of increased global demand, and financial stocks gained as some confidence returned to the markets. Among the mining stocks, copper miner Antofagasta (LON:ANTO) topped the blue chip leaderboard, up 70.5p at 1,064p, while ENRC added 43p at 1,257p on announcing the purchase of a 12.2% interest in South Africa's Northam Platinum.

Kazakhmys (LON:KAZ) improved 50p at 1,480p on revealing it has signed a memorandum of understanding with China's Jinchuan Group to create a JV to develop the copper growth project at Aktogay. Royal Bank Of Scotland Group Plc (LON:RBS) led the banks higher, up 2.25p at 58.05p, while Lloyds added 1.76p at 70.24p and Barclays (LON:BARC) ticked up 8.6p at 370.9p. Insurers returned to winning ways, shrugging aside fears of losses emanating from the recent travel chaos, with Aviva (LON:AV.) gaining 3.4p at 372.6p, Prudential (LON:PRU) up 5p at 546p and Legal & General Group (LON:LGEN) 0.45p higher at 89.5p.

Invensys (LON:ISYS) gained 14p at 340p, lifted by news from white-goods maker Whirlpool, for who it manufactures controls, that it raised its 2010 profit forecast after reporting earnings ahead of estimates.  Carphone Warehouse Group (LON:CPW) was up 3p at 197.75p after raising its earnings guidance on the back of good returns from joint venture partner Best Buy Mobile US.  Building supplies giant Wolseley (LON:WOS) gained 40p at 1,698p on being upgraded to outperform from neutral at Exane BNP Paribas, also taking heart from housebuilder Redrow (LON:RDW) announcing that it soon…

Unlock the rest of this article with a 14 day trial

Unlock with Email
Unlock with Google

Already have an account?
Login here