Markets: rising metals prices nudge FTSE 100 higher

The FTSE 100 edged higher yesterday, driven in part by higher metals prices. The index added 0.1% to close at 6,162.

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  • FTSE 100 up 0.1% to 6,162
  • Gold up 0.9% to $1,277.21/oz
  • £/$ 1.4448

Miner Anglo American topped the index with a 5.4% climb, while Randgold Resources added 3.5% and BHP Billiton was 2.8% higher.

In Europe, the Paris CAC 40 fell 0.5% to 4,316, and the German Xetra Dax lost 0.7% to 9,975.

In the US, the Dow Jones Industrial Average slid 1.2% to 17,711, the S&P 500 lost 1% to 2,064, and the Nasdaq Composite was 1% lower at 4,760.

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Overnight in Japan, the Nikkei 225 gained 0.4% to 16,646 and the broader Topix index was 0.2% higher at 1,337. And in China, the CSI 300 added 0.2% to 3,090 and the Shanghai Composite slipped two points to 2,835.

Brent spot was trading at $47.77 early today, and in New York, crude oil was at $46.37. Spot gold was trading at $1,272 an ounce, silver was at $17.25 and platinum was at $1,057.

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In the forex markets this morning, sterling was trading against the US dollar at 1.4422 and against the euro at 1.2640. The dollar was trading at 0.8764 against the euro and 108.88 against the Japanese yen.

And in the UK, haulage company Stobart Group reported a big rise in profits for the year. Underlying pre-tax profit for the year to 29 February rose by 98% to £18.4m, up from £9.3m the previous year. Revenue rose by 8.6% to £126.7m.

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