Thursday, September 26 17:16:49
Britain's top share index edged higher today, with a rise in metals prices on improving seasonal demand from China, the world's biggest consumer of industrial metals, helping mining stocks.
The UK mining index rose 0.6 percent, the best sectoral performer, after copper and zinc rose more than 1 percent on signs of strengthening confidence in the Chinese economy.
The blue-chip FTSE 100 index closed 14.06 points, or 0.1 percent, higher at 6,565.59 points after falling to a low of 6,535.78 earlier in the session. The index is up more than 11 percent so far this year.
Analysts said the index had potential to perform well this year as equities had become attractive compared to other asset classes because of an improvement in the economic outlook.
"We're seeing flows out of bonds and bank accounts pay negligible interest at best, so where else can the market put money to work other than stocks," Mike Jarman, chief market strategist at H2O Markets, said.
"Equities have good momentum for the year, barring a government shutdown in the US, there's very little that will cause the market to capitulate so long as macro data doesn't deteriorate."