Miners Support FTSE

THURSDAY MARKET UPDATE: The FTSE 100 is closed at 5,901 after being pushed forward by miners and Standard Chartered

Alanna Petroff 6 December, 2012 | 6:26PM

The mining and resources sector continued moving ahead on Thursday after posting a small rally on Wednesday. Antofagasta (ANTO), Vedanta Resources (VED) and Eurasian Natural Resources (ENRC) were the top three gainers on the FTSE 100.

A surge in mining shares helped the benchmark index inch up by 9 points, or 0.2%, to close the trading day at 5,901. The FTSE 250 index, which tracks UK mid-cap companies, also made some gains, rising by 0.4% to close at 12,149.

StanChart Getting Out of Hot Water; Rolls-Royce Dipping In

Shares in Standard Chartered (STAN) also popped up by nearly 1% after the bank put a number on their settlement with US regulators over their dealings with Iran. Standard Chartered says it expects to pay a total of $670 million to US regulators to settle allegations that is collaborated with the Iranian government and hid financial transactions. Shares in the global bank plummeted in August when the allegations were made public.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Antofagasta PLC987.00 GBX-0.22
Rolls-Royce Holdings PLC266.70 GBX4.06
Standard Chartered PLC434.20 GBX1.26
Vedanta Resources PLC  

About Author

Alanna Petroff

Alanna Petroff  is a financial journalist with Morningstar UK.

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