News article

Commodity stocks boost FTSE on stock market trading

Commodity stocks boost FTSE on stock market trading
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Commodity shares have helped boost the FTSE 100 during the morning session of stock market trading in London today (May 27th).

Energy stocks were among the biggest traders, with BG Group, Royal Dutch Shell, BP, Cairn Energy and Tullow Oil all rising, Reuters reports.

And mining businesses also recorded gains on the back of stronger metal prices, as Rio Tinto, BHP Billiton, Kazakhmys, Xstrata, Lonmin and Anglo American were up by between 1.5 per cent and 2.9 per cent in early trading.

As a result, the index was valued at 5,077.47 points by 09:25 BST, an increase of 0.8 per cent.

Steven Bell of hedge fund GLC was quoted by the news agency as saying the biggest issue for the market at the moment "is whether the fall has shaken out enough long positions so that people are prepared to start buying again".

Gains were also seen on the FTSEurofirst 300, which was up 2.1 percent at 992.47 points by 10:55 BST.

Posted by Chris WeaverADNFCR-1681-ID-19803988-ADNFCR