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FTSE 100 extends Monday's gains | |
(about 5 hours later) | |
(Close): London shares edged higher on Tuesday, extending the strong gains seen in the previous trading session. | |
After surging 2.8% on Monday, the FTSE 100 index closed up 27.2 points, or 0.43%, at 6,326.2. | |
A rally in commodity prices helped mining and energy companies, with Anglo American closing up 4.3%, having earlier been among the biggest fallers. | |
Glencore shares continued their recent pattern of big price swings by rising 2.5%. | |
It added to the 21% that the mining giant had jumped on Monday following reports that it was to sell its agricultural assets in order to cut debts. | |
Shares in bid target SABMiller dropped 3.8% after its second-quarter trading update, amid reports that it was likely to rejected a formal takeover approach from rival AB InBev. | |
SABMiller reported a rise in sales volumes, thanks to growth in Latin America and Africa. | SABMiller reported a rise in sales volumes, thanks to growth in Latin America and Africa. |
However, reported revenues fell by 9% due to the depreciation of emerging market currencies against the US dollar. | However, reported revenues fell by 9% due to the depreciation of emerging market currencies against the US dollar. |
In the FTSE 250, Greggs shares rose 7.6% after the bakery chain reported a 4.9% rise in like-for-like sales for the July-to-September period. | |
On the currency markets, the pound edged up 0.50% against the dollar to $1.5221 but slipped 0.17% against the euro to €1.3516. |