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FTSE 100 higher as mining rally continues | FTSE 100 higher as mining rally continues |
(about 5 hours later) | |
(Close): Mining companies helped pull the London market higher as the recent rally in commodity prices continued. | |
By the end of trading, the FTSE 100 was up 68.97 points or 1.13% at 6,199.43. | |
Mining firms dominated the leaders' board, with Glencore rising 11.9%, Anglo American up 11.1% and BHP Billiton 9.1% higher. | |
The mining sector has been helped by a rally in the price of metals, with the copper price on track for its biggest weekly rise in six months. | The mining sector has been helped by a rally in the price of metals, with the copper price on track for its biggest weekly rise in six months. |
The price of oil continued to edge higher. Brent crude added $1.28 to $38.35 a barrel, while US crude rose $1.09 to $35.66 a barrel. | |
Costa coffee owner Whitbread rose 0.1% to £38.03, following a 6.2% slide on Thursday after the company revealed a weak fourth quarter. | |
On the FTSE 250, Cineworld was the biggest faller, down 6.35% at 498.2p, after UBS gave its shares a "sell" rating. | |
On the currency markets, the pound rose 0.42% against the dollar to $1.4236 and dropped 0.12% against the euro to €1.2921. | |