FTSE bounces back.
Investors Chronicle - magazine and web content, November, 2007
But only after mining stocks jump higher Jonas Crosland
Reports of a bid for Rio Tinto from BHP altered the landscape dramatically this morning, and the subsequent rise in mining stocks was sufficient to reverse the early loss on the FTSE100 index, so that by lunchtime it was up 11.2 points at 6,396.3. Without the miners there were much less to cheer about, and mid-cap stocks probably reflected the broader mood of the market, with the FTSE250 index off 29 points at 11,105. Trading volume was brisk at GBP1.40bn. The Bank of England's decision to leave interest rates unchanged caused barely a ripple.
Rio shares surged 24 per cent to GBP54 after BHP responded to days of market speculation and admitted it had sent a letter to the Rio board to discuss a...
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