Mining rally boosts FTSE
Tuesday 3rd February 2009, 5:14PM GMT.
A mining rally has boosted the FTSE 100 over two per cent, propelling the index over the 4,100 mark.
After a slow start, the UK’s benchmark index rose 86.68 points to 4,164.46 as the snow thawed across the capital and workers returned to their offices.
Most stocks on the index stayed out of the red, with miner Xstrata leading the rise, closing 10.88 per cent higher.
Kazakhmys was not far behind, with shares rising by 10.03 per cent over the day.
Vodafone Group also enjoyed a boost in its share price, which closed 7.02 per cent up, after the telecoms operator raised its forecast for full-year revenues.
David Jones, chief market strategist for IG Index, said: “Despite some short term dips by the index over the last couple of days, the 4000 level has continued to provide support and has tempted a few buyers out.
“It is still early days for the turn in sentiment, but today’s strength could be the first step towards a recovery back up to last week’s highs around the 4350 mark.”
A few stocks remained below yesterday’s price however, including the London Stock Exchange, which dipped 7.24 per cent.
Barclays was also trading lower again, and closed down 2.74 per cent to 92.3p, after HSBC cut is target price on the bank.
Shropshire Star on Twitter
Keep updated with the latest breaking news and content on our Twitter feed.
Lifestyle
Interactive Dining Out map
Hundreds of reviews by the Shropshire Star and Express & Star's teams to help you decide where to eat.
Entertainment
All the film reviews
Before you plan a trip to the pictures, get our critics' verdicts on all the latest movie releases.
OUR NEW APP
Get the new Shropshire Star app
Download the Shropshire Star’s new app to your iPad or iPhone to get one week of access to our digital newspapers absolutely FREE.
shropshirestar.com
Popular sections
Useful links
