News article

FTSE climbs to 16-month high

FTSE climbs to 16-month high
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Rising mining and energy stocks have helped the FTSE 100 to climb to a 16-month high during the morning session of stock market trading today (January 11th).

According to Reuters, the index was up 61.61 points at 09:03 GMT, taking it to 5,595.85 points - its highest level since September 2008.

BP, BG Group and Royal Dutch Shell stocks climbed by between 1.8 per cent and 3.2 per cent, boosted by stronger-than-expected export data from China.

Anglo American, Rio Tinto, Lonmin, BHP Billiton and Kazakhmys were among the mining companies to gain in the morning session, recording increases of up to 3.9 per cent.

Joshua Raymond of City Index said that the China data "is the main driver behind today's gains".

He added that the reaction of the stock market to the statistics is an indication of "just how important a role china will play in the world's economic recovery".

Posted by Greg SeckerADNFCR-1681-ID-19549994-ADNFCR