FTSE jumps as miners boost
The leading share index in the UK was higher on Thursday as support from the Federal Reserve in the US sent the price of commodities higher. By the close of the session, the FTSE 100 was up by 1.3 per cent, adding more than 72 points to reach 5795.
Chris Bradshaw
shareprices.com - Thursday, January 26, 2012
The Federal Reserve announced on Wednesday night that it will continue to support the economic growth for a further two years at least, driving up the forecasts for demand for industrially-used metals. This in turn boosted the miners who lifted the index by 4.2 per cent overall.
Seven out of the top ten performers of the day came from the mining sector, with Vedanta Resources topping the pile with a rise of 8.68 per cent. Polymetal International was second with an increase of 7.76 per cent, but was also boosted by market talk of a merger between them and Russian Polyus Gold, a move which would create the ninth largest gold producer in the world.
Kazakhmys was in third place with a rise of 7.28 per cent after it announced that all of its main production goals had been reached during 2011 and expects to achieve similar levels during the coming year.
The FTSE 100 has recorded a rise of 1.2 per cent since the beginning of the week which if sustained, means the index will have increased five weeks out of the last six. But not everyone believes the signs are as strong as the indicators would seem to suggest, with the key resistance level of 5800 yet to be tested and predictions of a rapid fall if the Fed do not meet the expectations of investors.
Latest News
- FTSE inches down as banks and miners decline
22 Feb 2012 - FTSE drops as Greek deal leaves long-term questions
22 Feb 2012 - FTSE shoots up as China monetary policy boosts
21 Feb 2012
Related News
- FTSE drops as Greek deal leaves long-term questions
22 Feb 2012 - FTSE falls as euro stumbles
5 Jan 2012 - FTSE revival short-lived
2 Dec 2011
FTSE 100 Latest
| Value | Change |
| 5,916.55 | 11.65  |
Create a Watch List 
Track your favourite stocks
Create & monitor portfolios
Daily portfolio value
News
- FTSE inches down as banks and miners decline
22 Feb 2012 - FTSE drops as Greek deal leaves long-term questions
22 Feb 2012 - FTSE shoots up as China monetary policy boosts
21 Feb 2012 - FTSE ends week on a high
19 Feb 2012 - FTSE sags despite upbeat US data
17 Feb 2012 - Rangebound FTSE stagnant; miners drop as bankers rise
15 Feb 2012 - FTSE slips lower as investors eye credit warning
14 Feb 2012 - FTSE up as Greece agrees austerity measures
13 Feb 2012 - FTSE suffers worst week in eight over continuing Greek drama
13 Feb 2012 - FTSE higher as Greece close to rescue deal
9 Feb 2012
