FTSE ticks above 5,800 ahead of Irish budget

The FTSE was up more than 38 points, or 0.67%, to 5,805 by shortly after 9:30am. Commodity-related stocks bolstered the market, with Antofagasta up 1.44% to £14.78, BP rising 1.3% to 456p, Essar up 1.35% to 561.5p, and Fresnillo up 1.33% to £15.95. On the downside, banks are under pressure ahead of the Irish budget and continuing talk at the EU finance ministers' meeting of 'haircuts' for bondholders in distressed countries. Barclays, Lloyds and Royal Bank of Scotland are all lower. European stocks were also higher. The French Cac 40 index opened at 3,769.64, a gain of 0.54%, wh...