FTSE 100 rises on New Year bounce
Monday 5th January 2009, 9:30AM GMT.
Mining stocks lifted the FTSE 100 this morning, taking the index 2.88 per cent higher in early trading.
Xstrata shares rose 16.8 per cent to 747.5p, Rio Tinto was up 13.69 per cent and Antofagasta was up by 10.81 per cent.
Overall, the FTSE rose to 4,561.79 by 08:46 GMT, as it continued a post-Christmas bounce.
Telecoms group Inmarsat led the list of stocks in the red, falling 3.71 per cent, while utilities and pharmaceutical stocks were also lower.
GlaxoSmithKline fell 1.4 per cent, Centrica was down 1.32 per cent, United Utilities was 0.64 per cent lower and AstraZeneca dropped 0.46 per cent.
Overnight, Japan’s Nikkei 225 hit a two-month high on hopes of a weaker yen, up 2.07 per cent, while Hong Kong’s Hang Seng jumped 1.43 per cent.
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