FTSE rallies on back of troop movements in Baghdad

Confidence is expected to keep climbing on the UK stock exchanges this morning, following an already buoyant start, thanks largely to the renewed progress being made by coalition troops in Iraq. It is mainly Prudential, BT Group and Xstrata which have helped to the FTSE 100 up another 70.9 points or 1.9% so far this morning, to 3885 points. Xstrata, the world's fourth-biggest coal exporter, is being encouraged by the City after the South African firm agreed to buy rival MIM Holdings for A$4.9bnbn in cash and debt. Prudential, the life insurer, is also up 12p or 3.5% to 354p whil...