The FTSE 100 is making good advances this morning as it moves up 11.5 points, or 0.21%, to 5472.3, thanks to a strong showing from the mining sector.
Rio Tinto, has gained 31p, or 1.38%, to 2285p, after mining stocks continued the strong run which started in Australia overnight. Xstrata has also moved up 31p, or 2.39%, to 1326p.
Shares in directories business Yell have gained 7.25p, or 1.54%, to 477p after it said it was on track to meet full-year expectations, and posted a 14.5% rise in first-half profit, while increasing its interim dividend by 21%.
Meanwhile among telecoms, shares in Cable & Wireless are leading the advance with a rise of 4.75p, or 4%, to 123.5p after the company announced it is resuming its share buy back programme following the Energis acquisition.
But shares in retailer Marks & Spencer have slipped 4.25p, or 0.98%, to 431p, as news of tough trading outweighed confirmation that designer George Davis would stay on and become chairman of Per Una until next July.
In Japan the Nikkei 225 Stock Average had its first back-to-back drop in almost three weeks as it fell 24.87 points, or 0.2%, to 14,036.73, at its close a short time ago after oil prices traded near a three-month low, pulling down shares of energy companies such as Nippon Oil and Showa Shell Sekiyu K.K.
Crude oil for December delivery retreated 1.8% to $59.47 a barrel, causing Nippon Oil, the nation's biggest refiner, to slide 46 yen, or 5%, to 868. Showa Shell, the Japanese refining unit of Royal Dutch Shell, also lost 42 yen, or 3%, to 1,354.
JFE led gains by steelmakers jumping 290 yen, or 7.7%, to 4,050, after it raised its full-year profit forecast by 7%. Nippon Steel, the nation's largest steelmaker, advanced 24 yen, or 5.7%, to 448, while Sumitomo Metal Industries, the nation's third-largest, surged 39 yen, or 9.3%, to 460.
Elsewhere, Fujitsu, a network system maker, jumped 44 yen, or 5.7%, to 823, despite the Tokyo bourse blaming insufficient upgrade instructions by Fujitsu for the shutdown of its stock-trading system last week. It added that it has yet to decide whether to seek compensation from the company.
In the US the Dow Jones Industrial Average climbed to its highest point in seven weeks yesterday, advancing 55.47 points, or 0.5%, to 10,586.23, as oil dropped below $60 a barrel, easing the threat that energy costs will curtail consumer spending.
Citigroup, the biggest US financial-services company, rose $0.83 to $46.43, after Prince Alwaleed, who owns 4.3% of the lender, said the shares may rise more than 50% to $70 in the next year as Citigroup puts a series of scandals behind it and investors focus on earnings growth.
Retailers also had a good day, with Gap, the largest US clothing chain, jumping $0.81 to $18.08. The company is scheduled to report third-quarter results next week. Lowe's Cos, the world's No.2 home-improvement retailer, also climbed $1 to $61.95.
TiVo also climbed $0.18 to $5.30, after the maker of digital video recorders agreed with Yahoo! to let customers browse TV listings on Yahoo and program their TiVo box to record shows.
Meanwhile lower crude oil prices hit the energy sector with Exxon Mobil, the world's largest publicly traded oil company, slipping $0.80 to $57.10, while Chevron, the No. 2 US oil company, fell $0.61 to $57.40.
Guidant also fell $1.40 to $57.52, while Johnson & Johnson rose $0.55 to $61.43. Guidant has sued J&J to complete the $25.4bn purchase of Guidant after J&J missed the deadline for closing the transaction. Guidant, the heart-device maker, is seeking an order for J&J to complete the transaction.IFAonline
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