Posted by
alfredlester on Thursday, December 24, 2009 6:12:56 AM
LONDON (MarketWatch) -- British stocks tentatively built on recent gains in a holiday-shortened trading session on Thursday, with miners advancing amid higher commodity prices
The U.K. FTSE 100 index rose 0.1%, or 5.22 points, to 5,377.60.
The British stock market and selected Continental equity markets close early on Thursday for the Christmas break. Shares trading in Europe on Thursday were also in a tight range. See Europe Markets.
U.S. stock futures were pointing to mild gains on Wall Street.
The FTSE 100 index ended 0.8% higher on Wednesday, with the move bringing gains made in the first three sessions of the week to 3.4% and year-to-date gains to 21.2%.
The index is almost back at its 2009 closing high of 5,382.67, hit on Nov. 16.
Miners have performed strongly this year and were higher again on Thursday, with BHP Billiton shares up 1 low cost payday loans.4% and Anglo American shares up 1.2%.
Silver miner Fresnillo gained 2.6% and copper miner Kazakhmys advanced 1.2%.
The gains for the sector came as metal futures advanced, with gold futures up $10.10 at $1,104.20 an ounce. Light sweet crude oil futures were up 18 cents at $76.85 a barrel in electronic trading and sterling traded up 0.2% at $1.5993 against the dollar.
Still, gains for the top London index were kept in check by losses for some banks and insurance companies.
RSA Insurance Group shares were down 1.4% and shares of banking giant HSBC Holdings lost 0.7%.
London Markets: British stocks gain for fourth straight session