FTSE 100 up on optimism over fiscal cliff deal

The leading share index was trading up this morning, buoyed by optimism that the US will avoid the fiscal cliff.

Miners and banking shares led the FTSE 100 higher this morning, with Eurasian Natural Resources the biggest blue chip riser, adding 3.27 per cent.

On the FTSE All-Share, internet grocer Ocado rose almost 21 per cent in early deals, as it announced a £36m share placing.

Aga Rangemaster rose 7.14 per cent this morning, on the back of encouraging sales.

Siberian explorer Ruspetro jumped 6.82 per cent as it reported a jump in revenue over the third quarter.

Iron ore producer Ferrexpo increased 5.35 per cent.

Miners Aquarius Platinum and Lonmin rose 5.2 and 5.18 per cent respectively, while Finnish miner Talvivaara added 4.54 per cent.

At the other end of the spectrum, interactive whiteboard maker Promethean dropped 9.72 per cent in early deals.

Takeover target Sportingbet sank four per cent, while outsourcing firm Mitie lost 3.41 per cent, despite this morning issuing a buoyant interim management statement.

Tool hire firm Speedy dropped 2.92 per cent in morning trading. Last week it reported increased turnover and said it was on track for the full year.

Elsewhere, specialist technology provider e2v Technologies lost 2.46 per cent, while Bank of Georgia fell 2.11 per cent.

UK banking shares mostly had a good morning. HSBC rose 1.86 per cent in early trading, RBS increased 0.68 per cent and Barclays rose 3.03 per cent. However, Lloyds Banking Group fell 2.46 per cent.

In Asia, the Nikkei closed 1.43 per cent up, while in the US the Dow Jones closed up 0.37 per cent.