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FTSE rises as mining firms surge

FTSE rises as mining firms surge
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The FTSE 100 has climbed during the morning session of stock market trading today (September 22nd), led by a rise in the share prices of mining companies.

Fresnillo, Lonmin and Rio Tinto all advanced, Citywire reports, helping the FTSE jump 49.05 points to 5,183.41 at the midway point of morning trading.

The benchmark index had earlier peaked at of 5,189.88 points and Marks & Spencer was another firm that contributed to the increase, with its shares rising 11.9p to 386.3p ahead of the release of its financial results after Bank of America Merrill Lynch upgraded its outlook for the retailer.

However, there were some falls, primarily among energy firms, as Scottish & Southern Energy and National Grid both declined.

"The buying we have seen has been concentrated in the commodity sectors, with both mining and oil equities outperforming today," explained market strategist Joshua Raymond.

He added that investors are beginning to return to the market having spent the past few days focusing on profit taking.ADNFCR-1681-ID-19372079-ADNFCR