After an erratic start, the FTSE100 is in the black this morning, up 13.80 points (0.25%) to 5468.30 thanks to attempted takeover activity in the mining sector.
Anglo-African platinum mining company Lonmin leads the way, up a huge 46.96% or 1089 to 3408, having rejected a £5bn takeover offer from larger rival Xstrata.
Antofagasta has started well, up 27.5 or 5.29% to 547.5; while Vedanta Resources is 4.96% ahead to 1862.
Certain financial stocks have started the day lagging behind, with Old Mutual 6.39% lower to 99.6, while Friends Provident and Lloyds TSB Group are down 3.83% and 3.7% respectively.
ITV has shed 5.18% to 43.9 following news it has been hit by an advertising slowdown, seeing half-year profits fall by 28%.
Looking Stateside, the Dow Jones closed up 331.62, (2.94%) to 11615.77, following the Fed announcement that interest rates will be held at 2%.
America International Group led the gains, rising 3.2 or 11.99% to 29.89 followed by Boeing which flew up 6.26% to 65.2.
Chevron Corporation was the day’s sole loser down 0.37% to 82.49.
In Tokyo, Japanese stocks ended trading up 340.23 (2.63%) to 13254.89.IFAonline
Total funds on list rise from 26 to 58
What made financial headlines over the weekend?
Q2 net sales dropped almost 50%
‘Important to have an anchor’