Morning Markets: FTSE starts early recovery

clock

The FTSE recovered some of last week's losses in early trading, rising 37.28 points (0.7%) to 5,098.20 with gains from miners and banks.

Xstrata rose 3.6% to 985.4p after the miner announced it was reinstating its dividend despite a slide in earnings due to heavy one-off costs and weak commodity prices. Randgold Resources climbed 3.17% to £44.30 after upping its dividend by 30%. The Africa-focused gold miner said profits soared in the fourth quarter as it increased production and benefited from the continuing rise in prices. Banks too were among the early gainers, with shares in RBS up 1.55% to 32.55p and Barclays 0.9% higher at 270.35p, while financials also featured among the losers. ICAP fell 17.7% to 302.4p, Llo...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Bank of England meets expectations with 25 basis point rate cut to 4.75%

Bank of England meets expectations with 25 basis point rate cut to 4.75%

'Continued progress' on disinflation

Valeria Martinez
clock 07 November 2024 • 2 min read
'Budget will be a reset for our economy' Reeves tells IMF colleagues

'Budget will be a reset for our economy' Reeves tells IMF colleagues

Autumn Budget on 30 October

Linus Uhlig
clock 24 October 2024 • 2 min read
Advisers urged not to let clients 'act too soon' ahead of Budget

Advisers urged not to let clients 'act too soon' ahead of Budget

Communication is about ‘staying calm and keeping clients focused’

Isabel Baxter
clock 22 October 2024 • 5 min read