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FTSE 100 lifted by resource stocks

Published: 17:09 04 Feb 2016 GMT

mining

The FTSE 100 added more than 60 points, driven higher by resource stocks, which in turn were lifted by the weakness of the US dollar.

The FTSE 100 advanced 62 points, or 1.1%, to 5,899, with mining giant Anglo American (LON:AAL) leading the way – at one point registering its biggest ever single-day percentage gain.

The stock finished the day up 20% at 328.3p. Sector peers Glencore, Antofagasta, Rio Tinto and BHP Billiton also racked up double-digit percentage gains.

Oil stocks were also wanted, amid speculation about a possible supply cut by oil cartel Opec. It proved a good day for Royal Dutch Shell (LON:RDSB) to report a massive slump in earnings.

Profits were at least towards the top end of guidance and the market seemed reasonably happy with the company's actions to cut costs in order to maintain the juicy dividend.

Shell's 'A' shares closed at 1,525.5p, up 6.1%.

Results from drugs giant AstraZeneca (LON:AZN) were less well-received, and the stock finished the day at the bottom of the Footsie ladder, down 6.1%, after it forecast an earnings decline this year as its Crestor cholesterol drug faces more US competition.

Vodafone (LON:VOD) drifted 2.65p to 210.25p as it confirmed annual guidance and reported a 1.4% rise in group organic service revenue against 1.2% in the second quarter, its sixth quarter of improvement in a row.

Among the small caps, Kimberly Enterprises (LON:KBE), the Netherlands-based property company, was the stand-out stock, shooting up 56% to 0.35p as Real Property Investment (Guernsey) Limited lifted its stake from less than 3% to 6.44%.

Noricum Gold (LON:NMG) surged 13.3% to 0.119p after well-received initial drill results at Kvemo Bolnisi in Georgia.

Sector peer Amur Minerals (LON:AMC) hardened 0.1p, or 1.7%, to 6p as it doubled its drill capacity to speed up exploration of the Kun Manie nickel deposit in Russia.

Shares in theme park queue-busting software developer accesso Technology (LON:ACSO) were just the ticket after it said its performance in 2015 was “comfortably in line” with expectations. The shares rose 5.6% to 900p.


 

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