This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/news/business-31434756

The article has changed 4 times. There is an RSS feed of changes available.

Version 0 Version 1
Mining shares lift FTSE 100 Sterling boosted by inflation report
(about 4 hours later)
(Open): Mining shares helped to support the market, with Rio Tinto leading the way after it announced plans for a $2bn share buyback. (Noon): Sterling jumped on the currency markets after the Bank of England's latest inflation report hinted at an earlier-than-expected rate rise.
Rio Tinto shares rose more than 3% on the news, which came as it reported its full-year results. Although the Bank warned inflation could turn negative in spring, it expects the rate to return to its 2% target in two years' time.
Other mining companies were also trading higher, with Anglo American up 1.9% and Antofagasta 1.6% higher. The Bank also upgraded its forecasts for growth and wage increases.
Overall, the benchmark FTSE 100 index was up 4.09 points at 6,822.25 in early morning trade. The pound rose 0.65% against the dollar to $1.5337, while against the euro it climbed 0.61% to €1.3525.
The key focus for investors is expected to be the Bank of England's latest Inflation Report, due out later. There is speculation that the Bank will cut its inflation forecast, acknowledging that it could turn negative this year. "Arguably one of the most notable changes to the Bank's forecast is the upward revision to the inflation profile towards the end of the forecast horizon," said Martin Beck, senior economic adviser to the EY Item Club.
Shares in property website Zoopla fell 3.2% after it reported an 11% fall in the number of advertising members over the past year. It blamed the drop on the launch of a rival property website run by estate agents. "This reinforces our conviction that interest rate rises, while likely to be very gradual, will probably increase at a faster pace than the market expects. We expect the first hike to come in early 2016 and for rates to reach 1% by end-2016 and 1.5% by end-2017."
On the currency markets, the pound edged up 0.05% against the dollar to $1.5244, while against the euro it rose 0.09% to €1.3455. On the stock market, the benchmark FTSE 100 index was up 8.73 points at 6,826.90.
Mining shares helped to support the market, with Rio Tinto up more than 3% after it announced plans for a $2bn share buyback.
Coca-Cola HBC shares jumped nearly 9% following news of an agreement on a ceasefire in eastern Ukraine.
Coca-Cola HBC is the world's second-largest bottler of Coca-Cola drinks and Russia is its biggest market.
Shares in property website Zoopla fell 3% after it reported an 11% fall in the number of advertising members over the past year. It blamed the drop on the launch of a rival property website run by estate agents.