FTSE 100 bolstered by mining firms

  • 26 November 2015
  • From the section Business
Market trader (file picture) Image copyright PA

(Close): Mining shares helped to lift the London stock market after metals prices rose, with copper hitting a two-week high.

The benchmark FTSE 100 index closed up 55.5 points at 6,393.13, with shares in mining giant Glencore up 5.8%.

However, BHP Billiton fell 2.5% after JP Morgan cut its rating on the miner to "underweight" from "neutral".

Analysts said the recent dam failure in Brazil could be the "straw that breaks the camel's back" for its dividend.

Trading was quiet on Thursday with US markets closed for the Thanksgiving holiday.

Tesco shares rose 0.9% after the supermarket said it had paid $12m (£8m) to settle a US lawsuit.

The lawsuit alleged that Tesco's overstatement of its profits guidance, revealed last year, breached certain US securities laws.

Severn Trent shares rose nearly 1% after the water company reported flat half-year revenues of £896m and a 2.6% rise in underlying profits to £218m.

On the currency markets, the pound fell 0.07% against the dollar to $1.5120, and edged up 0.08% against the euro to €1.4253.