The FTSE 100 has recovered from a slight slump suffered yesterday after opening strongly today (Tuesday August 23) reducing the impact of sharp falls in mining stocks.
The index had opened higher on Monday before intra-day trading saw falls for many of the largest mining stocks. However, it regained strength on Tuesday morning, with the index surpassing Monday’s starting point in early trading, rising 0.5 per cent.
Many of the returns came from those hit yesterday by negative sentiment. Ango American was up 2 per cent in early trading with BHP Billiton rising 2.5 per cent. Glencore and Rio Tinto were both up close to 2 per cent.
Other strong movers included annuties provider JRP Group, which rose over 8 per cent on annoucing a trading update.
Elsewhere, sterling remains relatively stagnant against the dollar and the euro, rising fewer than 20 basis points against each. However, it was down slightly against the yen, taking the Japanese currency’s annual rise in sterling terms to over 31 per cent.
