Markets: commodity stocks drive FTSE100 back up

published 27 January 2016

FTSE 100 up 0.6% to 5,911
Gold up 1.08% to 1,119.82/oz
£/$ $1.4350

FTSE 100

Miners had a good day. The day's top performer was Anglo American, which added 11.9%. Glencore rose 7.7%, Fresnillo gained 5.6% and Rio Tinto was 5% higher.

In Europe, the Paris CAC 40 rose 1.1% to 4,356, and the German Xetra Dax added 0.9% to 9,822.

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In the US, the Dow Jones Industrial Average rose 1.8% to 16,167, the S&P 500 added 1.4% to 1,903, and the Nasdaq Composite was 1.1% higher at 4,576.

Overnight in Japan, the Nikkei 225 jumped 2.7% to 17,163, and the broader Topix index gained 3% to 1,400. And in China, the CSI 300 lost 0.4% to 2,930, and the Shanghai Composite lost 0.5% to 2,735.

Brent spot was trading at $31.02 early today, and in New York, crude oil was at $30.48. Spot gold was trading at $1,118 an ounce, silver was at $14.39 and platinum was at $873.

In the forex markets this morning, sterling was trading against the US dollar at 1.4330 and against the euro at 1.3197. The dollar was trading at 0.9209 against the euro and 118.27 against the Japanese yen.

And in the UK, Royal Bank of Scotland says it is to set aside a further £2.5bn to pay for compensation for PPI costs and toxic US home loans. The costs mean the bank will not make a profit in 2015 the eighth year in a row. Shares were down 1.5% in early trading.