FTSE 100 up 0.8% in early trade

Wednesday, 11 November 2009 12:00

The FTSE 100 rallied 0.8 per cent to 5,272.23 by 09:00 GMT as mining stocks reversed their recent decline.

Randgold Resources rose by 4.65 per cent, while Kazakhmys was up by 3.67 per cent and Fresnillo jumped 3.62 per cent on firmer metals prices.

J Sainsbury was also among the risers, up by 3.66 per cent following a better-than-expected 32.6 per cent jump in first half profit from last year.

While the appointment of a new chief executive at Imperial Tobacco helped raise the firm's stock 0.21 per cent, the surprise departure of Reed Elsevier boss Ian Smith has sent shares in the publisher tumbling 5.02 per cent.

Lloyds Banking continued its decline, falling 2.54 per cent, followed by a 0.8 per cent fall for Barclays.

Over in the US, the Dow Jones rose again, up by 0.2 per cent, while the S&P 500 dipped by 0.14 per cent.

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