The FTSE has gained 30.3 points, or 0.5%, to 6055.9 in early trading snapping a six-day losing streak, led by Wolseley after the company said it will begin a significant cost-cutting program.
Antofagasta is leading mining shares higher after copper prices increased for the first time in three days. Wolseley, the world's biggest supplier of plumbing and heating equipment, is up 41p, or 3.6%, to 1,176p. Chief executive, Chip Hornsby says the cost-cutting program will include a 10% reduction in headcount at building-materials unit Stock. Antofagasta, the owner of three copper mines in Chile, has risen 8.25p, or 1.8%, to 471p. Copper has gained for first time in three days on the London Metal Exchange. The contract for delivery in three months is up $45, or 0.7%, to $7,020 a met...
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