Business

FTSE 100 higher as mining rally continues

  • 4 March 2016
  • From the section Business
Market trader (file picture) Image copyright Getty Images

(Close): Mining companies helped pull the London market higher as the recent rally in commodity prices continued.

By the end of trading, the FTSE 100 was up 68.97 points or 1.13% at 6,199.43.

Mining firms dominated the leaders' board, with Glencore rising 11.9%, Anglo American up 11.1% and BHP Billiton 9.1% higher.

The mining sector has been helped by a rally in the price of metals, with the copper price on track for its biggest weekly rise in six months.

The price of oil continued to edge higher. Brent crude added $1.28 to $38.35 a barrel, while US crude rose $1.09 to $35.66 a barrel.

Costa coffee owner Whitbread rose 0.1% to £38.03, following a 6.2% slide on Thursday after the company revealed a weak fourth quarter.

On the FTSE 250, Cineworld was the biggest faller, down 6.35% at 498.2p, after UBS gave its shares a "sell" rating.

On the currency markets, the pound rose 0.42% against the dollar to $1.4236 and dropped 0.12% against the euro to €1.2921.