FTSE starts higher as Blair goes to the polls

IBM has said it will cut 4% of its global workforce, or 13,000 staff, mainly as the result of poor economic growth in Europe. SAB Miller, the brewer, has gained 18p to 817p after analysts at Morgan Stanley recommended investors buy the shares. Rio Tinto, the miner, is up 34p to 1,639p after reporting higher earnings under International Financial Reporting Standards than previously reported under UK Generally Agreed Accounting Principles. Deutsche Bank has raised the whole European mining sector to ‘neutral’ from ‘underweight’. Xstata has followed Rio, gaining 17p to 933p, while Ant...