FTSE 100 index opens ahead of US jobs data as miners' share prices continue to rise

 
James Nickerson
Follow James
A large computerised display of the Brit
Markets held firm ahead of the all important jobs data (Source: Getty)

The FTSE 100 index opened higher this morning ahead of the publication of US jobs data, which investors will be eyeing for signs of when the Federal Reserve will next raise interest rates.

The UK's blue-chip index was 0.52 per cent up at 5,931 points in mid-morning trading, as miners recouped losses made when the market opened.

Read more: BG Group results take pounding on commodity prices

"Mining shares have picked up where they left of, topping the FTSE 100 by a wide margin for a second day. After rising as much as 18 per cent on Thursday, Anglo American is higher by over eight per cent on Friday with Antofagasta and BHP Billiton also top risers," said CMC Markets analyst Jasper Lawler.

After falling when the FTSE opened, Anglo American rose 5.48 per cent to 346.93p per share, while Glencore jumped 2.98 per cent to 102.63p per share.

Read more: Shell full year earnings fall 80 per cent as it confirms job cuts

BHP Billiton was less sharply up to 717.6p per share, a 0.7 per cent climb. Antofagasta rose 1.09 per cent to 435p per share.

"For most of last year all the market was able to focus on was the US jobs report to the exclusion to all else and while today’s January jobs report is also likely to be the main event, it would need to be a spectacularly good number now to shift market expectations about the slowly receding possibility of an imminent rate rise," said Michael Hewson, chief markets analyst at CMC Markets.‚Äč

Related articles