FTSE 100 up on commodities, financials

Tuesday, 10 November 2009 12:00

The FTSE 100 rose 0.26 per cent higher to 5,248.59 by 08:30 GMT, led by commodities and financial stocks.

Financial services firm Schroders led the way, up by 4.61 per cent, closely followed by Royal Dutch Shell, up by 2.34 per cent.

However, mining stocks were weighing on the index, with Randgold Resources down by 1.78 per cent, Lonmin 1.48 per cent lower and Xstrata down by 1.29 per cent.

Barclays also looked likely to take the FTSE 100 into the red, after third quarter results did not meet investors' expectations, despite a pledge from the bank to return to paying dividends.

Cadbury has also dipped into the red and was down by 0.26 per cent in early trade after rebuffing Kraft's £9.7 billion offer yesterday.

Last night, markets across the world jumped on hope the G20 members will continue to stimulate the economy, increasing investor confidence.

The Dow Jones closed two per cent higher, while the S&P was up by 2.2 per cent.

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