London markets rise on oil, miners
by Elaine Frei
In London on Tuesday, the FTSE 100 added 1 percent to 6,082.1 as oil companies and miners saw gains as commodities prices continue to rise, while the FTSE250 was up 0.46 percent to 9,924.4.
In the mining sector, Kazakhmys gained 4.9 percent to £11.94, as Xstrata added 4 percent to £20.63 and Antofagasta was up 3.65 percent to £24.40.
Cairn Energy hit a new record high share price, adding 5.25 percent to £24.48 with an upgrade to “buy” and a raised target share price of £27.50 from Merrill Lynch. Elsewhere in the sector, BG group was up 3.6 percent to 763½p and BP gained 1.7 percent to 688p.
Retailers also saw gains on the day, with Woolworths adding 2.3 percent to 33½p on rumors that the Reuben brothers could be interested. JBB Sports gained 1.8 percent to 183¼p.
The media sector did not do as well on the day. GCap Media dropped 4.7 percent to 242p on rumors that its flagship station, Capital 95.8FM was not getting as much of an audience as hoped for and on negative comments from Deutsche Bank. Meanwhile, ITV was down 1.3 percent to 113½p on a drop in advertising, despite the upcoming World Cup.
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