Mining and oil lifts FTSE 100

15-08-2008

Mining and oil lifts FTSE 100
Mining and oil stocks led a slight recovery for the FTSE 100 this morning, following yesterday's falls.

The blue-chip index opened at 5,474.40 points, rising to 5,515.60 by 10:00 BST, 67 points higher than last night's close at 5,448.60.

Antofagasta led the rise, with a share price increase of 5.86 per cent, while BHP Billiton and Rio Tinto were close behind with climbs of 5.49 per cent and 4.83 per cent respectively.

Oil stocks gained as crude rises toward $117 a barrel, after a recent fall in prices. Royal Dutch Shell shares rose 3.57 per cent while BP was up two per cent.

On the downside, house builder Persimmon fell again by 3.34 per cent while TUI Travel, which reported it is struggling with high jet fuel prices in its second quarter results out today, fell 1.43 per cent.

Economic data to watch later today will be from the US, as the government publishes July's consumer price index.

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