FTSE 100 heads higher in early trade

Monday, 27 July 2009 12:00

The FTSE 100 continued its run with a 0.41 per cent rise to 4,595.30 in early trade as US markets hit new closing highs.

Publisher Pearson led the rises with a 9.16 per cent gain, while banking and mining stocks also performed well on the index.

Lonmin rose 4.99 per cent and Antofagasta was up by 3.2 per cent, while Royal Bank of Scotland jumped 3.88 per cent.

Several stocks remained in the red however, offsetting the gains in the financial and commodities sectors.

Packaging group Rexam was trading 9.34 per cent lower after announcing a rights issue to raise funds, following a disappointing second half.

British Airways was also down, by 2.56 per cent, as analysts predicted a loss for the airline when it reports quarterly earnings this week.

On Friday, the Dow Jones continued its rally, rising 0.26 per cent to hit an eight-month high of 9,093.24, while the S&P 500 was up by 0.3 per cent.

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