FTSE 100 closes higher

FTSE 100 extends last week's rally

FTSE 100 closes higher on commodities

The FTSE 100 closed 1.61 per cent higher at 4,682.46, led by a jump in commodities.
FTSE 100 closes higher

The FTSE 100 rallied in afternoon trading to close 2.34 per cent higher but remained under the 4,000 barrier.

Monday, 05 January 2009 12:00

The FTSE 100 closed flat as gains made by mining and utilities stocks were offset by the financial sector.

The UK's benchmark index ended the day at 4,579.64, a gain of just over 17 points from Friday's finish, extending last week's rally.

International Power shares rose 7.37 per cent, while Serco Group was up by 6.2 per cent and Xstrata jumped 5.82 per cent.

However, Rangold Resources was among the biggest fallers, down 9.17 per cent, while Old Mutual fell 8.96 per cent and HBOS dropped 7.45 per cent.

David Jones, chief market strategist for IG Index, said: "Afternoon trading has found some momentum on the back of Wall Street paring earlier losses, and the FTSE 100 has been clawing its way towards 4600.

"The rally over the last week or so has been an impressive one and traders are now waiting to see if this can be sustained and set up a more positive start to 2009."

Mr Jones said the stocks to watch this week will be the retailers, as sales figures for the Christmas period are announced.