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FTSE 100 bounces back at start of new week FTSE 100 edges higher at start of new week
(about 4 hours later)
(Open): London's leading shares opened higher on Monday, recovering some of Friday's losses. (Noon): London's leading shares traded higher on Monday, partly recovering from Friday's losses, but shed some of their initial gains during the morning.
In the opening minutes, the benchmark FTSE 100 index gained 79.5 points or 1.32% to 6,122.42. By lunchtime, the benchmark FTSE 100 index was up 27.72 points or 0.46% at 6,070.64, having been as much as 1.3% higher at the start.
On Friday, the index fell 2.4% after US jobs figures fell short of analysts' expectations. On Friday, the index fell 2.4% after US jobs data fell short of expectations.
Mining stocks led the FTSE higher, with Antofagasta up 4.5% and Rio Tinto adding 2.1%. Mining stocks led the FTSE higher, with Antofagasta up 6.8% and Glencore adding 5.7%.
But with US markets closed on Monday for the Labor Day holiday, investors were not expecting any lead from Wall Street later in the day.But with US markets closed on Monday for the Labor Day holiday, investors were not expecting any lead from Wall Street later in the day.
There were only two fallers in early trade on the 100-share index. AB Foods, which owns low-cost fashion retailer Primark, fell 1% despite maintaining its full-year earnings forecast in a statement released on Monday. AB Foods, which owns low-cost fashion retailer Primark, topped the losers' list, falling 2% despite maintaining its full-year earnings forecast in a statement released on Monday.
On the currency markets, the pound rose 0.18% against the dollar to $1.5199 and gained 0.3% against the euro to €1.3649. On the currency markets, the pound rose 0.59% against the dollar to $1.5259 and also gained 0.59% against the euro to €1.3688.