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Banks and miners lift London to 15-month high

posted Dec 24, 2009, 8:25 AM by Yale ReiSoleil   [ updated Dec 25, 2009, 1:16 AM ]
By Anjli Raval

London (FT.com) -- London’s benchmark stock index reached a 15-month high on Thursday, the last trading day before the Christmas break.

The FTSE 100 closed 0.6 per cent higher at 5,402.41, the highest peak since September 2008. Trading halted early at 1230GMT for the holiday period and will resume on Tuesday December 29.

Mining stocks continued to be in focus, extending the previous day’s gains. Fresnillo, the world’s largest primary silver producer, opened 5 per cent higher at 785p after trumping an offer from Canada’s Goldcorp to buy Canplats Resources, a Canada-based exploration company, for C$254m (£152m). Xstrata added 0.6 per cent to £10.74 after its biggest shareholder Glencore moved towards a public listing by selling $2.2bn of convertible bonds. Anglo American was up 0.9 per cent at £26.90.
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