US market gains give Footsie early boost

The FTSE 100 Index is up 62 points at 4124.4 after healthy rises in the United States last night.

The FTSE 100 Index is up 62 points at 4124.4 after healthy rises in the United States last night.

Banks and mining stocks are helping the London market to make progress in early trading.

Among the financial stocks, HSBC has risen 16'p to 713'p, HBOS is up 18'p at 690'p, and Barclays has gained 8p to 440p.

Anglo-American shares have gained 21p to 793p after it posted better-than-expected results. The rise has helped spark others in the sector, with BHP Billiton up 8p at 296'p and Anglo American up 21p at 793p.

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Hays is up 5'p at 125'p, rising 5% despite reporting a fall in pre-tax profits and warning the rocky times faced by its businesses would continue.

British Energy has fallen another 7 per cent, or 2p to 26p. The group was yesterday given a short-term £410 million sterling loan from the government, but its long-term future remains in doubt.

PA