Page last updated at 20:20 GMT, Monday, 12 October 2009 21:20 UK

FTSE 100 closes at one-year high

Trader watched the FTSE 100 (October 2008)
Some analysts believe the FTSE will rise further this week

The FTSE 100 has closed at its highest level for more than a year, boosted by stronger commodity prices and optimism about the US corporate earnings season.

London's leading share index rose 48.3 points to 5,210.17 - its highest close since September 2008.

Insurer Old Mutual was the top gainer on the index, rising 4.6%, as traders re-evaluated its stock.

Rising metal prices pushed up miners, while the price of oil rose almost 2%, boosting energy companies.

Oil giants BP rose 1.8% and Royal Dutch Shell gained 1.6%.

Some analysts believe the FTSE will continue to rise throughout the week.

"The next FTSE target traders are eyeing in the short term is the 5,350 high hit in September last year and the way sentiment is going it would not be a surprise to see that hit this week," said David Jones, chief market strategist at IG Index.

Dutch electronics giant Philips also gave markets a boost, when it reported better-than-expected quarterly profits.

Markets elsewhere in Europe rose, with France's Cac 40 index gaining 46.19 points to close at 3,845.8, and Germany's Dax climbing 71.35 points to 5,783.23.

On Wall Street, the Dow Jones Industrial Average closed up 20.86 points at 9,885.8. Trading had been light as much of the US observes the Columbus Day holiday.



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MARKET DATA - 11:36 UK

FTSE 100
5429.64up
23.70 0.44%
Dax
5733.05up
19.54 0.34%
Cac 40
3784.02up
14.48 0.38%
Dow Jones
10403.79up
78.53 0.76%
Nasdaq
2273.57up
35.31 1.58%
BBC Global 30
5707.15up
20.65 0.36%
Data delayed by at least 15 minutes

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