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END-OF-DAY REPORT: Headline shares ended a see-saw session with firm gains as mining heavyweights stormed higher on the back of rising metals prices, offsetting weakness across the financial sector, with Randgold Resources the star.
At the close of business, the FTSE100 was up 31.41 points at 5,092.33 with the FTSE250 off 25.54 points at 9,010.37 and the FTSE Smallcaps 13 points lower at 2,761.18.
NEW YORK
US stocks were just slightly higher in late morning trade, investors wary on concerns over European sovereign debt problems and US proposals on bank regulation.
Approaching the close in London, the Dow Jones Industrial Average was up 4 points at 10,016, the S&P500 gained 4 points at 1,070 and the Nasdaq Composite edged up 9 points at 2,150.
LONDON MARKETS
The miners dictated direction today, starting and ending the session strongly and offsetting weakness in financial issues and commercial property concerns.
Randgold Resources surged 271p to 4,480p on reporting a 79% increase in profit for the year to end-December to $84.3m, against the prior year $47m, on the back of record production at its flagship Loulo operation. The group's Q4 profit of $38.7m was up 185% quarter-on-quarter and 315% up on 2008. The dividend was hiked 30%. Silver miner Fresnillo closed up 35.5p at 705p.
Xstrata was also in big demand after revealing better-than-expected operating EBITDA of $7bn in the year to end-December 2009 and resuming its dividend. The shares closed 33.8p higher at 983.8p.
Others in the sector joined the move forward, with BHP Billiton up 32.5p at 1,857p and Rio Tinto 29.5p higher at 3,065.5p.
Shares in British banks rose on the FTSE 100 in morning trading following positive news on the Greek debt crisis.
Unite, the union, has gone to international unions, in its attempts to bring the...
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