FTSE 100 rallies for sixth day
FTSE 100 rallies for sixth day
Tuesday 25th August 2009
The FTSE 100 extended gains for a sixth day, despite being weighed down by the mining sector.A fall in metals prices sent mining stocks tumbling, taking the UK's blue-chip index into the red in early trade.
Kazakhmys fell by 3.57 per cent, Antofagasta was down by 3.01 per cent and Eurasian Natural Resources dipped 2.51 per cent.
But better economic news from the US helped drive the index 0.42 per cent higher to 4,916.80, with hedge fund Man Group leading the way, up by 4.83 per cent.
Royal Bank of Scotland was also trading higher, up by 3.86 per cent, after the bank announced pension reforms that could cut scheme costs significantly.
British Airways, which is celebrating its 90th birthday, was also among the risers on the index, up by 3.53 per cent.
Going into afternoon trading on the US markets, the Dow Jones was up by 0.99 per cent, while the S&P 500 will rise by 0.82 per cent.
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