Market overview: Greek aid rumour lifts spirits
Tuesday 09 Feb 2010

1630: Close Footsie looked set to finish in negative territory after being positive for most of the day, but late in the day a rumour emerged that the Euro zone countries have agreed to offer assistance to debt laden Greece. Mining stocks were the major beneficiaries of the change in sentiment, as traders gambled that the rumours, if true, will reduce the risk of the sovereign debt crisis spreading throughout and beyond Europe. The top risers among FTSE 100 constituents were all miners - Xstrata, Antofagasta, Rio Tinto and Fresnillo. FTSE 100 was up 20 at 5,112.

1555: Miners have consolidated their dominant position at the top of the FTSE 100 and the leading share index looks set to finish in the blue. Antofagasta, Xstrata, Rio Tinto, Fresnillo, Kazakhmys and Vedanta Resources occupy the top six spaces. FTSE 100 up 35 at 5,128.

1440: Miner Xstrata leads Footsie higher. Peers Rio Tinto, Vedanta and Antofagasta are also posting good gains. British Land is going well after the property giant saw a revival in its portfolio in the last three months with ‘strong’ valuation growth across all types of its properties. Peer Land Securities is also higher. FTSE 100 up 25 at 5,118.