The UK's benchmark stockmarket index had another good start to the week as mining stocks saw the best gains of the day.
The FTSE 100 index closed the day up 25.9 points or 0.5% to 4846.7 and the FTSE All-Share index added 0.5% to 2432.5 after distributor of heating systems Wolseley rose 6% to £10.74 on the back of improved operating profit and mining stocks jumped thanks to an improved earnings estimate from Morgan Stanley.
Rio Tinto and BHP Billiton both eventually gained 2.6% to lift the firms to £15.90 and 642p respectively.
Tesco, the UK’s largest supermarket, also closed up 6.5p or 2.1% higher at 323.5p as the firm is tomorrow expected to announce holiday sales increases thanks to non-food goods – where other firms have struggled. Reports in the national media of a potential new non-food goods venture are also likely to have boosted the supermarket chain’s share value.
High street retailer Monsoon also leapt 27.5p or 11% to 269.5p after revealing sales rose in the pre-Christmas holiday period, lifting fiscal first-half net income by 28%.
Trading in New York was closed today, to celebrate Martin Luther King Jr day but will resume tomorrow.IFAonline
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