FTSE 100 jumps in early trading

FTSE 100 jumps in early trading

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Monday, 19, Oct 2009 09:31

The FTSE 100 jumped over one per cent in the first hour of trading on Monday.

At 09:00 BST, the London index had risen by 69.15 points to 5,259.39.

Miners proved the backbone again of the rises - with silver miner Fresnillo gaining 3.52 per cent.

Kazakhmys rose 3.26 per cent and Anglo American gained 3.11 per cent.

Property stocks also performed well this morning.

British Land rose 3.43 per cent and Liberty International climbed 3.23 per cent.

Leading the drops was Lloyds Banking.

The lender was down 0.90 per cent to 92.26p - as the Financial Services Authority outlined tough new rules for mortgage lenders.

Royal Bank of Scotland was down 0.56 per cent to 46.74p.

Cable & Wireless fell 0.65 per cent, United Utilities lost 0.58 per cent and Severn Trent lost 0.57 per cent.

Overnight, the Nikkei was down 0.21 per cent but the Hang Seng gained 1.23 per cent.

In Europe this morning, the Dax rose 1.22 per cent and the Cac40 rose 1.20 per cent.

On the currency markets, sterling was down 0.49 per cent against the dollar to $1.6276 and down 0.66 per cent against the euro to ?1.0902.