FTSE given lift by US jobs data

The leading share index in the UK was boosted by figures from across the water as the latest employment trends figures from the US were better than anticipated. By the close of the final full day session of 2011, the FTSE 100 was higher by 1.1 per cent, adding over 59 points to reach 5566.

Chris Bradshaw
shareprices.com - Friday, December 30, 2011

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A rise in Wall Street was also seen in the London market as trends in the US employment arena pointed to an improving economic outlook. Oil provided the biggest support to the FTSE as the price of the commodity resisted downward pressure as Iran's continued threat to block vital trade routes had an impact.

Royal Dutch Shell was one of the notable risers in the sector, adding 1.69 per cent.

The miners specialising in precious metals did not enjoy the same success with many stocks heading south, following a corresponding drop in the price of gold and silver. Randgold Resources was lower by 0.23 per cent whilst Fresnillo was down by 0.66 per cent. The worst performer from the mining sector in the blue chips was Vedanta Resources which fell by 0.89 per cent.

Outside the top flight, Hambledon Mining was a heavy casualty, tumbling by 3.45 per cent. As well as being hit by the falling price of gold, the miner was affected by the announcement that it is facing a fine of £1.17 million. The potential penalty is being levied for what the Kazakh authorities have deemed is 'an administrative offence arising from environmental damage'.

 

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