FTSE 100 up sharply on US economic stimulus
The blue chip index jumped sharply in early trading, as it consolidated gains in the US in the wake of QE3.
Headline miners led the index up, with Ferrexpo jumping 15.15 per cent in early trade, as metal prices rose on hopes of increased demand.
South Africa-focused Aquarius Platinum jumped 12.48 per cent, Evraz soared 11.37 per cent and Fresnillo rose 10.51 per cent.
Other FTSE 100 miners clustered in the risers were Antofagasta, adding 9.54 per cent, Vedanta, which rose 9.41 per cent and Kazakhmys, which jumped 9.34 per cent.
The top fallers were instead a mixed bag, with leisure and financial companies leading the index down.
Pub group Punch Taverns lost ground this morning, down 3.94 per cent.
BSkyB shed 1.55 per cent, while beleaguered travel group Thomas Cook slumped 1.52 per cent.
Pace lost 4.86 per cent, despite a recent note from Jefferies Group reiterating its ‘buy’ rating on the media and technology group.
Investment companies Schroder Real Estate and F&C Global Smaller Companies slid 1.23 and 1.08 per cent in early trading.
Financials sustained the index this morning. HSBC was up 2.22 per cent, RBS was up 3.58 per cent, boosted by its flotation of the Direct Line business, while Lloyds Banking Group was up 2.86 per cent and Barclays was up 3.47 per cent.
In Asia, the Nikkei closed 1.83 per cent up, while in the US the Dow Jones closed up 1.55 per cent as US stocks rallied following the Fed’s decision.