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FTSE aided by banking and commodity shares

FTSE aided by banking and commodity shares
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Banking and commodity stocks have helped to push the FTSE 100 higher during the morning session of stock market trading today (October 8th).

At 09:29 BST the benchmark index was up 0.9 per cent - or 45.12 points - to 5,154.02 points, Reuters reports, with Vedanta Resources gaining 5.6 per cent after posting a rise in zinc and iron ore output.

Other mining firms - including Rio Tinto, Lonmin, BHP Billiton and Xstrata - recorded increases, as the sector was boosted by strengthening metal prices and a surprise return to profitability for US aluminium producer Alcoa.

HSBC, Barclays and Standard Chartered were among the financial firms to see increases in the morning session and market strategist Joshua Raymond noted that investors are continuing to purchase high-risk equities.

However, he warned that the release of interest rate data by the Monetary Policy Committee and European Central Bank could impact trading, with the "main worry" for markets being an increase in rates that comes too soon.ADNFCR-1681-ID-19399231-ADNFCR