FTSE 100 up on banking and mining shares

The blue chip index was up this morning, as investors reacted more positively to US macroeconomic data, consolidating gains in Asia and the US.

Mining and banking stocks pushed the FTSE 100 up in early trading, with Lloyds, Evraz, Kazakhmys and Antofagasta leading the blue chip index.

Insurer CPP Group topped the FTSE All-Share index leaderboard, up 9.27 per cent in early trading. Publisher Trinity Mirror was up more than nine per cent, as it announced yesterday it was to merge its regional and national newspaper businesses.

Newspaper and magazine wholesaler Smiths News rose 8.26 per cent on the back of a strong annual results statement, where it reported a jump in pre-tax profit of 21 per cent.

Housebuiler Bellway increased 5.90 per cent, as it reported a 57 per cent jump in profit for the year.

Miner Petropavlovsk rose 5.11 per cent in early deals, as investors reacted positively to its third quarter production update.

UK banking shares propped up the index this morning. HSBC rose 0.59 per cent, RBS added 1.33 per cent, Barclays increased 0.93 per cent and Lloyds Banking Group was up 3.19 per cent.

LSL Property led the FTSE All-Share down, falling 2.62 per cent, while real estate investment trust Hansteen Holdings fell 1.66 per cent.

Ophir Energy shed 2.17 per cent, while IAG fell almost two per cent.

Miner Gem Diamonds fell 1.29 per cent, despite yesterday having its ‘neutral/attractive’ rating reaffirmed by investment bank Goldman Sachs yesterday.

In Asia, the Nikkei closed 1.44 per cent up, while in the US, the Dow Jones closed 0.72 per cent up.