A report iron ore prices could go up by 20% in contracts being negotiated with big importers such as China and Japan has sent the FTSE 100 up by about 20 points to 4,577.
Another 23 points would take the index’ gains since mid-August to some 300 points. Rio Tinto is up 31p to 1,441p. BHP Billiton is up 11.5p to 549p. Tesco is up 2.75p to 275.5p on news it is to start selling home loans in store. Antofagasta, the copper miner based in Chile, is up 18p to 1,063 on the coat-tails of improved iron-ore prices, which suggests demand remains robust for all metals commodities. Anglo American is up 16p to 1,279p. Cable & Wireless is down 2.75p to 107.25p as investors shun its plans to develop broadband services for the UK retail market. Marks & S...
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