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FTSE rebound led by mining shares

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CATHY ADAMS

The leading share index staged a rebound this morning, led by mining shares.

In early deals, the FTSE rose 0.6 per cent after suffering its sharpest one-day fall yesterday since July on concerns that the US Federal Reserve could wind up stimulus programme sooner than expected.

Headline miners made up the top five FTSE risers this morning – as metal prices rallied – with Kazakhmys leading the pack, up 2.74 per cent.

Russian precious metals miner Polymetal and steelmaker Evraz were both up 2.2 per cent.

Outside of the miners, luxury retailer Burberry was up 2.2 per cent, and industrial buyout specialist Melrose rose 2.1 per cent.

Mid-cap miners and oil shares were also doing well, with Finnish miner Talvivaara up 7.2 per cent and Fortune Oil rising 4.6 per cent.

A mixed bunch of shares made up the FTSE fallers this morning. G4S topped the blue chip loser board, shedding 1.4 per cent.

Education group Pearson, which also owns the Financial Times, sank 0.8 per cent.

Brewer SAB Miller fell 0.4 per cent in early trading. Yesterday Morgan Stanley initiated its coverage of the stock with an “equal-weight” rating and a target price of 3300p.

On the wider index, Indonesian coal miner Bumi fell 4.2 per cent, as the majority of board overhaul proposals from company co-founder Nat Rothschild were rejected at the company’s EGM yesterday.

UK banking shares were mainly in positive territory this morning. HSBC rose 0.56 per cent, Barclays was up 1.17 per cent and Lloyds Banking Group rallied 0.89 per cent. Only RBS fell, shedding 0.39 per cent.

In Asia, the Nikkei closed up 0.68 per cent and in the US, the Dow Jones closed down 0.34 per cent.

CATEGORY: Solicitors


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A C Sanders & Co A M Patel & Co A M Vance & Co A S International
A T M Abdullah & Co. Abbey Estates Ltd. Abbott Car Care Claim Handlers Abiloye & Co
Abrahams Dresden Ahmed,M U,& Co Ailia & Mahmood Aina Khan Partnership (Solicitors)
Akodu & Co Aktar & Co Alexander Johnson Amhurst Brown
Amin Welch & Co Andrew Keen & Hassett Aravindans Armah & Co.
Arrest Defence Service Ashursts Ltd. Athuraliyage Solicitors Azfar Bajwa
Bains & Co Bala & Co. Bambos Tsiattalou Barker Austin
Batt Holden Beaumont & Son Ltd. Belmont & Lowe Bentley Stokes & Lowless
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Blick & Co Borm Reid & Co Bowling & Co. Breeze Benton & Co.
Brook Blane Russell Brough Skerrett Browne,Vincent,& Co Burgess & Burgess
Burton Woolf & Turk Camillins Campbell Chambers Campions
Carlile Associates Ltd. Cartwright Cunningham Haselgrove & Co Cartwright Cunningham Haselgrove & Co. Chakravorti & Co
Chamberlin Solicitors Charles Kirit & Co. Cherryacre Ltd Chetty & Co.
Chris Timms Christodoulou,Chriso, City Law Practice Civis Project Management Plc
Clegg Manuel Cleveland & Co Clifford Chance London Ltd. Clifford Miller & Co
Clinton Davis & Co. Cms Cameron McKenna Services Coldham Shield & Mace Corbin & Hassan
Corkers Cullens Cuthberts & Co D J Webb & Co
Dabelstein & Passehl Dalton Barrett David D Lewis & Co David Gouldman & Co.
David Skinner Daybells Dean Marsh & Co. Dennis Morris
Denniss Matthews Dhillon & Co. (Solicitors) Ltd. Dickson Minto Don Saman & Co.
Dooley Moss Dowse & Co. Duncan Lewis (Solicitors) Ltd. E Watkins & Co
Edell & Jones Edward Fail Bradshaw & Waterson Edward J C Album Edwards Duthie
Eke & Co Ellis Wood Eve Wee Solicitors Fenton Hills
Forbes Hall Fyfe Ireland G H Gelberg & Co G Houghton & Son