Resources resurgence rallies FTSE

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Another strong start for mining stocks has driven the FTSE100 higher in mid-morning trading, up 66.30 points (1.22%) to 5514.90.

The overnight bump in crude costs has boosted oil services group Petrofac, currently 6.82% ahead to 556. Miners hold the other top five spots, with Antofagasta 5.95% higher to 570 and BHP Billiton 5.42% up to 1594. Rio Tinto and Ferrexpo are both 4.87% ahead so far. Rolls-Royce has lost ground after announcing a new engine joint venture with the Goodrich Corporation, 2.17% lower to 394.25. FirstGroup and Unilever are also sluggish early, down 1.74% to 565.50 and 1.33% to 1486 resprectively. In New York, a late rally was not enough to save Wall Street from another disappointing session ...

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