FTSE rises as Wall St rallies

Anglo American gained 4.61% to £20.87, BHP Billiton rose 3.46% to 988p and Rio Tinto added 2.94% to £27.67. Meanwhile, Merrill Lynch cut estimates across the asset management industry, taking financials lower. Amvescap fell 2.06% to 476p and Schroders declined 1% to 993p. Old Mutual dropped 1.08% to 160.5p after it announced between 600 and 800 jobs would be cut as part of its cost-savings programme following the recent acquisition of Skandia. Aviva, the subject of bid speculation from Italian Generali, gave up early gains and ended flat at 744p. And in the US, the Dow Jones i...