FTSE climbs as credit fears recede

Supermarket giants Tesco recorded a better than expected 3.5% rise in UK sales, pushing the chain to an early 18.5 point gain, or 4.25%, to 454. Homebuilders are continuing a recovery, with Persimmon and Taylor Wimpey again at the forefront, up 3.68% to 1029 and 3.54% to 285.5 respectively. After a magnificent day yesterday, mining stocks are beginning to correct, with Lonmin down 128 points, or 3.46%, to 3576 and Antofagasta 18.5 points lower, or 2.3%, to 784.5. Northern Rock continues to slide, down a further 2.5 points this morning, or 1.89%, to 129.6. In New York, stocks brushed asi...