FTSE rallies on better economic data from the US

Thursday, 14 January 2010 10:20

By myfinances.co.uk staff

The FTSE 100 index rose for the first time in three days this morning adding 29.29 points, or 0.5 per cent, to 5,502.77 on better economic news from the US and higher reported sales from Barratt Developments.

Rio Tinto paced added 2.1 per cent to 3,611.5p after it reported a 49 per cent increase in fourth-quarter iron ore output and as metals climbed.

Other mining companies did well too. Xstrata gained 2.4 per cent to 1,201p, while BHP Billiton the world's biggest mining company, added 2.2 per cent to 2,088p. Copper prices climbed in London.

Associated British Foods gained 1.8 per cent to 875p as the maker of silver spoon sugar said revenue from continuing businesses for the 16 weeks to the start of January rose 17 per cent.

Big Yellow Group, the UK self-storage operator, added 2.6 per cent to 357.9p after saying total store revenue rose 1 per cent in the third quarter from a year earlier.

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