FTSE 100 higher in early trading

07-04-2009

FTSE 100 higher in early trading
The FTSE 100 rose back over the 4,000 mark in early trading as mining stocks bounced back.

The index reversed yesterday's falls with a 31 point gain to 4,025.00 by 08:40 BST, as mining stocks recovered from last night's sell-off.

Randgold Resources was up by 3.57 per cent, while silver miner Fresnillo rose by 3.10 per cent and Antofagasta jumped 2.92 per cent.

Defence companies BAE Systems and Cobham led the index, however, after the Pentagon said it would review spending.

BAE Systems shares rose 5.63 per cent, while Cobham rose 4.42 per cent to 184.30p.

Banking stocks fell after yesterday's gains, with Standard Chartered down 2.92 per cent and Lloyds Banking Group trading 2.26 per cent lower.

In the US, markets fell back after an analyst raised new fears over the health of the banking system.

The Dow Jones was off by 0.5 per cent, while the S&P 500 closed 0.8 per cent lower.

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