The UK's benchmark index is already off to a strong start this morning as mining stocks offer the best start to the week on the back of strong Pacific performances earlier in the day.
The FTSE 100 index has already earned 24.7 points or 0.6% to 5,387 in early trading this morning, led by mining giants Antofagasto, BHP Billiton, Rio Tinto and Xstrata.
All of the mining stocks are currently up at least 1.1% as Antofagasta has risen 22p or 1.5% to £14.86, BHP Billiton has earned 14p or 1.7% to 839.5 – having earlier in Australia gained 1.2% to A$20.72- then Rio Tinto took a similar route and rose 25p or 1.12% to 259 – again having risen 1.3% to A$57.25 in Australia – Xstrata rose 21p or 1.5% tp £14.15.
Reuters has also gained 6p or 1.64% to 372p while BP – which is in takeover talks with Ieon for some of its divisions – is also up 11.5p or 1.85% to 633.5p.
Despite strong prospects for the exporters to the US according to a US jobs report on Friday, the Nikkei 225 index closed the day down almost 132 points or 1% to 13,227.74.
But in the US on Friday, all three main indices gained a fraction, as the Dow Jones index earned 5 points or 0.05% to 10.292 while the Nasdaq rose 6.27 points or 0.3% to 2,090 and the S&P 500 index earned 4.4 points or 0.37% to 1.195.9.
If you have any comments you would like to add to this story or would like to speak to its author about a similar subject, telephone Julie Henderson on 020 7968 4571 or email [email protected].IFAonline
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