FTSE 100's 0.5% rise 'is second increase in consecutive days'

The FTSE 100 has risen for the second consecutive day, it was revealed this afternoon (January 12th).

According to Bloomberg, the largest index on the UK stock exchange managed to gain 0.5 per cent to stand at 6,041.78 as of 13:26 GMT.

In addition, despite yesterday bringing the FTSE 100's first rise in four days - when the index climbed by 1.2 per cent in the afternoon - the gauge is up by 2.4 per cent.

There were positive results for HSBC Holdings - which saw a 3.1 per cent increase to 710.2 pence - and there was good news for Xstrata and Rio Tinto as the pair put on 1.5 per cent and 1.6 per cent respectively.

But Graham Bishop, an equity strategist at Royal Bank of Scotland Group, pointed out the recovery of the economy is still in its early years, adding: "Conditions continue to favour equities and pro-cyclical positioning."

Posted by Greg Secker