FTSE 100 rises 0.6 per cent in early trade

FTSE 100 rises 0.6 per cent in early trade

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Friday, 20, Nov 2009 10:35

The FTSE 100 rose 0.6 per cent in early trade, up by 30.65 points after closing down at 74.43 points last night, the biggest one-day fall in three weeks.

Commodity and banking stocks led a broad-based rally, with banks higher as risk appetite returned; HSBC gained 0.7 per cent.

As metal prices rallied, miners, which had been the biggest drag on the index yesterday, rebounded. Vedanta Resources rose 1.77 per cent, while Rio Tinto was up 1.39 per cent.

Cairn Energy was up 1.51 per cent and Royal Dutch Shell up 1.18 per cent as the price of crude CLc1 nudged higher.

Tobacco giants British American Tobacco and Imperial Tobacco climbed 0.8 per cent and 0.7 per cent.