Modest gains for global stocks

GLOBAL stock markets made modest gains yesterday as investors appeared to keep their powder dry in anticipation of what 2011 will bring.

The London FTSE proved an exception and on its first day back after the Christmas break it closed the day down 13 points (0.2%) to finish at 5,996.

European stock markets were ahead, boosted by strong mining and energy stock performances, as the outlook for commodity prices continue to stay positive, reflecting growing optimism for global production.