FTSE in rhythm on Rio samba

A deal to supply Pilbara iron ore to Hyundai Steel has led to a flurry of activity for Rio Tinto so far, surging 11.1% to 5506. BHP Billiton, which is targeting Rio, is up 8.53% to 1603 in sympathy – while Anglo American is sharing in the spoils, up 6.76% to 2936. The positive sentiment is not rubbing off on Smith & Nephew, the orthopaedic device manufacturer is 3.45% lower to 658.50. British Airways is lower despite meeting Q3 operating profit targets, the carrier is 2.64% down to 323.25. In New York, the Dow Jones climbed as confidence grew in the affect of the Federal Reserve rate cu...