Mining companies drove the FTSE higher this morning with the index up 0.47% to 6,671 and the FTSE All-Share rising to 3447.25. The news was positive for the FTSE100 which has lost 0.8% this week.
A rise in commodity prices, especially copper in Asia which was at its highest in more than two months, led to strong performers from the miners with BHP Billiton(up 1.9% to 1527) and Anglo American (up 1.9% to 3263) the front runners.
Home improvement retailer Kingfisher also climbed after Deutsche Bank AG raised its recommendation on the company's shares.
Another notable riser was New Star Asset Management which gained 4.75 pence, or 1.1%, to 456.75 after the fund company said first-half trading is generally buoyant.
There was also strong news from the US where a strong day’s trading saw the Dow Jones climb beyond 14,000 after jumping 82.10 points, or 0.59%.
International Business Machines was among the frontrunners, climbing 4.78 points, or 4.3%, to 115.86. It was closely followed by Hewlett Packard, up 1.26 points, or 2.67%, to 48.4, and United Technologies, up 1.62 points, or 2.14%, to 77.18. However, these gains were offset by losses for Alcoa, down 1.83 points to 44.62, GEN Motors, down 0.62 points to 35.38, and Merck & Co, down 0.6 points, or 1.2%, to 49.34.
In Tokyo, Japan's Nikkei 225 index gained 0.2%, up 41.36 points, to 18,157.93. Metal and steel stocks were the order of the day, with Sumitomo Metal Mining striking a 200 point increase, or 6.69%, to 3,190.
Mitsubishi Heavy Industries has the day’s largest gains; increased demand for the company's gas turbines, nuclear and wind-power stations lifted the industrial machinery giant up 60 points, or 7.55% to 855.
Kawasaki Heavy Industries also performed well, finishing 6.19% higher, up 33 points to 566. KDDI Corp lost after announcing it will cut the price on its most basic monthly telecommunications package by half – it closed 55,000 down, or 6.06%, to 853,000.IFAonline
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