Morning markets: FTSE cautious after volatile week

The FTSE 100 was up by 4.32 (0.09% points) to reach 4,993.02 points with mining stocks making the biggest gains.

Antofagasta was the biggest riser, moving up 28 points (3.89%) to reach 748p after RBS upgraded it to buy from sell.

Rival Rio Tinto saw its shares rise 3.29% to £25.88, while Vedanta Resources climbed 2.66% to reach £19.27 after Deutsche Bank put a buy recommendation on the stock.

Kazakhmys rose by 2.38% to reach £10.10. Xstrata rose by 2.17% to reach 872p following speculation that it may make a bid for rival miner Anglo American.

Man Group led the losers, dropping by 2.97% to reach 307.50p.

Software companies also fell, with developer Autonomy Corporation dropping by 1.90% to reach £15.53 despite announcing that it won a significant contract with major US retailer Sears.  Sage Group fell 1.74% to reach 220p after stockbroker Jefferies International downgraded it to hold from buy.

Legal & General fell by 1.76% to 837p after traders remained unconvinced that National Australia Bank could be preparing a offer for it and after Goldman Sachs dropped the British insurer from its "conviction buy" list.

In Tokyo, the Nikkei slipped 57.38 points to 9,674.49, its lowest finish since 21 July due to concerns over the U.S. economic recovery and the strength of the yen.

 

Categories: Industry

Tags: Dow jones| Ftse 100| Nikkei