The FTSE 100 has only the mining sector to thank for the 96.30 point (1.66%) gain this afternoon, closing Tuesday on 5885.20.
Mining giants Antofagasta, Xstrata and Anglo American led the gains as rising copper prices boosted the entire sector.
Antofagasta was the best of the bunch, closing 6.69% higher to 669.50. Xstrata was 5.89% up to 3719 and Anglo American finished on 2608, a 5.8% jump.
Thomas Cook opened well and continued to climb this afternoon on rival TUI Travel’s encouraging trading announcement. Cook finished 5.48% up to 260.
Alliance & Leicester was the only stock to lose significant ground on news it faces a £185m charge for Treasury investments losses. The lender closed down 3.45% to 700.
In New York, Wall Street is currently ahead as investors anticipate a Fed rate cut on Wednesday. The Dow Jones is currently 81.94 point up (0.66%) to 12465.83.
Alcoa is leading the gains after it signed a memorandum of understanding with the Brunei Economic Development Board to make more detailed studies into aluminium plants. Alcoa is currently 4.04% ahead to 32.74.
AT&T and General Motors are also having a good start on Tuesday, up 3.16% to 37.55 and 3.05% to 27.34 respectively.
Disney continues its recent volatility, down 2.35% to 28.68 - while pharmaceutical giant Merck is 1.75% lower to 48.39.
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