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11/9/2010 11:23:34 AM
cerious22
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Posts: 8
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"Solid updates from the likes of Schroders and Vodafone have helped cheer investors and shake off the indifference that dogged yesterday's session," said Anthony Grech, head of research at IG Index.
"Traders are eyeing up the 6,000 level as the next target for the FTSE - and at the rate that the markets have bounced in recent days, they may not have to wait long," he said in a note to investors.
Mining stocks played a big role in the rally - the sector is heavily weighted on the London index - as gold futures pushed further into record territory. December gold futures touched a contract high atop $1,422.10 an ounce before edging back to $1,417.60, while other metals stocks were also higher.
Shares of Randgold (LONDON:UK:RRS) jumped 4%. The company reported third-quarter net income more than doubled and also affirmed its outlook calling for gold output to rise 50% in 2011.
Among other big gainers, shares of Xstrata PLC (LONDON:UK:XTA) traded up 3.4%, while Rio Tinto PLC (LONDON:UK:RIO) (NYSE:RIO) added 2.4% and Eurasian Natural Resources Corp. (LONDON:UK:ENRC) gained 2.8%.
Fund manager Schroders (LONDON:UK:SDR) ranked as a top gainer in the FTSE 100 after it reported strong net inflows in the third quarter, beating market expectations. Shares jumped nearly 5%.
Via MarketWatch
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