FTSE 100 jumps over two per cent

Tuesday 6th October 2009

The FTSE 100 responded to claim it was set for stagnation in the run-up to Christmas by jumping over two per cent on Tuesday.

The FTSE 100 closed up 2.26 per cent or 113.65 points to 5,137.98 - with heavy gains from miners.

The rises came despite indifferent economic data.

The National Institute of Economic and Social Research (NIESR) issued GDP estimates at zero per cent for the last three months – with industrial production was much weaker than expected.

Manufacturing output data was also disappointing.

However, New York set the mark for London growth.

The Dow was up 1.67 per cent to 9,760.19 at 11:37 EDT (16:37 BST), while Chicago's S&P 500 gained 1.74 per cent.

In Europe the Dax was up 2.50 per cent and the Cac 40 gained 2.42 per cent.

Miners really dominated today in London.

Fresnillo closed up 9.93 per cent, Kazakhmys closed up 9.08 per cent and Vedanta Resources climbed 9.10 per cent.

Tullow Oil was up 8.43 per cent and Randgold rose 8.04 per cent.

Shire led the drops down 1.68 per cent, followed by Legal & General down 1.29 per cent and Morrisons down 1.15 per cent. ADNFCR-1783-ID-19395962-ADNFCR

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