Industry News

LONDON (ShareCast) - 1630: Close London closed up 91 points at 4,340 thanks mostly to a runaway mining sector as metal prices rallied. Vedanta was up almost 10%, copper giant Antofagasta (LSE: ANTO.L - news) 6% and Xstrata (LSE: XTA.L - news) over 5%. International Power (LSE: IPR.L - news) also looked good, up nearly 7%. Man Group (LSE: EMG.L - news) stood out among the losers after going ex-dividend. Among the mid-caps, its decision to pull out of its East Coast mainline franchise drove National Express (LSE: NEX.L - news) down 8%.

1500: The leading index is up 71 points at 4,320, led by a pack of miners benefitting from strength on metal markets. Three-figure gains on Wall Street also helped.

1400: Footsie (news) is little changed as we await the US open. Miner Vedanta is the top riser, helped by higher metals prices. Power generator International Power is the second biggest gainer after selling its Czech business. Fashion retailer Marks & Spencers is higher after reporting a rise in sales though like-for-like sales fell. FTSE 100 up 52 at 4,302.

1225: Footsie is steady after good gains this morning. Miner Vedanta, up 9%, leads the way, helped by higher metals prices. Power generator International Power is the second bggest gainer after selling its Czech business. Fashion retailer Marks & Spencers is higher after reporting a rise in sales though like-for-like sales fell. FTSE 100 up 58 at 4,307.

1045: Miners continue to lift the FTSE 100, with Vedanta at the top of the pile. Fashion retailer Marks & Spencers is higher after reporting a rise in sales though like-for-like sales fell. Power generator International Power is higher after selling its Czech business. FTSE 100 up 63 at 4,312.

0840: A surge in demand for the miners has sent Footsie sharply higher in early dealings this morning. Vedanta, ENRC and Rio and Kazakmys are all in demand. Trading statements from Marks & Spencer and International Power have also been well received. FTSE 100 up 65 at 4,315.