They go from Rio, but FTSE stronger

clock

Rio Tinto's announcement it is to pay $38.1bn in cash for Canadian aluminium producer Alcan led to major increases in mining stocks today - pushing the FTSE 100 up 82.6 points, or 1.25%, to 6697.7.

The mining giant’s share price suffered though; Rio closed down 183 points, or 4.58%, to 3810. But Vedanta Resources, Antofagasta and Xstrata fared much better. Vedanta finished up 109 points, or 6.45%, to 1800; Antofagasta was up 43 points, or 6.39%, to 715.5; while Xstrata closed up 153 points, or 4.67%, to 3427. British Airways was the best non-mining performer; BA soared to end the day up 22 points, or 5.26%, to 440.5. In New York, the Dow Jones is surging to new record highs this morning, as investors welcome the multi-billion dollar M&A news. The index is up 161.36 points, o...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

FCA's Rathi addresses Autumn Budget market abuse concerns

FCA's Rathi addresses Autumn Budget market abuse concerns

Pens open letter to Treasury Committee

Isabel Baxter
clock 04 December 2025 • 2 min read
More tax, less shelter: A slow-burn Budget for savers and investors

More tax, less shelter: A slow-burn Budget for savers and investors

'The Budget documents make for sobering reading for those trying to build up their wealth'

Laith Khalaf
clock 04 December 2025 • 3 min read
OBR 'deeply regrets' early release of Budget document

OBR 'deeply regrets' early release of Budget document

Mistaken release of Budget documents forced Richard Hughes' resignation

Linus Uhlig
clock 02 December 2025 • 3 min read