London’s blue chip stocks opened 30 points higher this morning on improvement sentiment in Europe despite a flat session in the US.
The S&P 500 added 5 points, or 0.2%, to settle at 2,130.82—an all-time closing high.
The Dow Jones Industrial Average DJIA, ended the day flat at 18,285.74 while the Nasdaq Composite gained 19.05 points to 5,090.79.
In Europe, late night talks between Greek, French and German government ended without a deal in place, but sentiment remains a deal is likely to be done before the end of the month.
In the UK, the FTSE 100 was 25 points higher to 7,038 led by telecom giant Vodafone (LON:VOD).
Speculation continues to swirl that Liberty Global is eyeing up the mobile phone provider. Shares jumped 5.3% to 255p, making Vodafone the biggest gainer in early trading.
Elsewhere, in China, unused funds from recent IPO’s have been repositioned back into the domestic market.
The increased liquidity is expected to provide an uptick in demand which was a boost to the mining stocks on the FTSE 100.
For the second day in a row, Fresnillo (LON:FRES) found itself near the top of the index, rising 2% to 778p.
There were also gains for Anglo American (LON:AAL), 1.6% higher to 1,073p, while Randgold Resources (LON:RRS) rose 1.3% to 4,778p.
Propping up the index was water provider Severn Trent (LON:SVT) as the company reported a fall in profits for the year to 31 March.
Pre-tax profit dropped 53% to £148.2mln as the company said it faces increasing regulatory pressure. Shares fell 1.8% to 2,144p.
In broker news, Deustche Bank remains bullish on Dixons Carphone (LON:DC.).
The Carphone Warehouse and Currys owner was given a target price hike to 500p and had its ‘buy’ rating reaffirmed. Shares climbed 1.4% to 467p.
Similarly, following rival Zoopla’s (LON:ZPLA) announcement that the number of agencies on its books fell, Exane BNP Paribas sees Rightmove (LON:RMV) as the beneficiary.
The broker boosted its target price 300p to 3,600p. Shares were 7p higher today to 3,261p.
In small caps, Tethys Petroleum (LON:TPL) has agreed a further US$1.7mln funding via the issue of unsecured convertible debenture. Shares climbed 8% to just shy of 9p.
The big gainer of the day was Tungsten Corp (LON:TUNG) after it raised £17.5mln through a share placement of more than 21mln shares at 80p per share.
The news sent shares in the electronic invoice supplier jumping 30% to 89p.
Conversely, Anglo Asian Mining (LON:AAZ) is set for a US$4mln cash injection from chief executive Reza Vaziri. Shares fell 6.8% to 5.4p on the news.
Mosman Oil and Gas (LON:MSMN) said it is talking to a potential farm-in partner for the Taramakau license. Shares eased 12% to 4p.