Miners and financials boost FTSE

clock

A revival in appetite for UK mining firms, spurred by a rebound in metal prices, helped to push up the UK's benchmark index in early exchanges.

The FTSE 100 climbed 0.9% to 4,839.26, with gains powered by an almost 8% jump in the shares of platinum specialist Lonmin to £15.52. Kazakhmys rose 5.43% to 999.5p as copper prices headed higher and a broker revised upwards its expectations for the miner's profits. Insurers and banks also featured in the winners' camp, with Aviva up 4.23% to 403.7p and Legal & General gaining 3.75%. Lloyds Banking Group rose 3.9% as its shares see-saw back and forth on reports it is looking to launch a rights issue and reduce its exposure to the Government's expensive Toxic Asset Programme. Ove...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

'Discussion-worthy stuff': Chinese assets under pressure

'Discussion-worthy stuff': Chinese assets under pressure

China has an 18% share of global GDP and only a 3% MSCI ACWI weighting

Chris Justham
clock 02 April 2024 • 2 min read
Why investors 'can't outrun' slow-moving demographics

Why investors 'can't outrun' slow-moving demographics

'Demographic change is a key megatrend'

Darius McDermott
clock 07 March 2024 • 5 min read
Spring Budget 24: Ten key takeaways from Jeremy Hunt's speech

Spring Budget 24: Ten key takeaways from Jeremy Hunt's speech

British ISA, Office for Budget Responsibility, tax cuts

Valeria Martinez
clock 07 March 2024 • 4 min read