Miners lead FTSE advance
The FTSE tracked rises across Europe as a poll in Greece showed that that the pro-austerity conservative party in the debt laden state was ahead in the polls.
According to the figures the New Democracy party could gain about a quarter of the votes, making it the biggest party with elections due on 17 June.
Frankfurt’s Dax index and France’s Cac both lifted by more than one per cent in early trading. Greece’s leading ATG index also rose.
However in Spain the plight of the country’s lender Bankia still cast a shadow after it asked Madrid for a €19bn bailout.
Its shares plunged by 27 per cent, having been suspended on Friday. Spain’s Ibex index was off the pace and fell by 0.5 per cent.
Trading in London was thin with public holidays in the US and some European countries reducing activity.
On London’s blue chip index the main risers were in the mining sector, with Polymetal the biggest climber, up three per cent.
Rio Tinto, Antofagasta and Rio Tinto all lifted by around 2.5 per cent.
Outsourcer Capita, up 2.4 per cent, was the only non miner in the top five climbers. It was buoyed by investment bank UBS upgrading its rating on the stock to “buy” from “neutral”.
The banking sector also saw a rally with Lloyds up 1.4 per cent, Barclays one per cent and RBS 0.6 per cent.
On the down side BA owner IAG was the steepest faller, off by 2.7 per cent.
B&Q owner Kingfisher dipped by 1.4 per cent while in the energy sector Centrica edged down by 0.8 per cent and National Grid 0.7 per cent.
On the FTSE All-share UK miner Hargreaves Services dived by more than more 30 per cent after it issued a profit warning.
In Asia the Nikkei closed up 0.1 per cent and the Hang Seng 0.4 per cent.