FTSE still bullish

The London market's bullish mood has showed no signs of easing as the FTSE managed further modest gains in early trading.

By 9am, the Footsie stood 12 points higher at 4259.3 after setting a new year-long high on Friday following a gain of 2% over the last week.

Stronger Asian markets kept the momentum going as London investors shrugged off the continued uncertainty in post-war Iraq.

Mining stocks generated the main interest in early business with Xstrata up 7.75p at 482p, Anglo American ahead 17.5p at 1169p, RioTinto 19p higher at 1318p and BHP Billiton 4p stronger at 403p.

Among the financials, Barclays lifted 3.75p at 488.75p, Alliance & Leicester cheered 8p to 899p and HBOS rose 3p to 753p.

In another quiet session for corporate news, recruitment consultancy Michael Page International attracted buying interest following its better than expected interim results performance.

While the company remained cautious about prospects for a trading recovery, the stock lifted 5.5p to 152.5p.

Heading in the opposite direction was Minorplanet Systems - down 8.5p to 125.5p - after the maker of vehicle tracking products said it planned to sell its controlling stake in its US business.