FTSE up as miners perform

Firmer commodity prices put BP and a number of mining stocks back on an upward path today.

Oil prices ended their recent slump by climbing above $52 a barrel, while metal prices also recovered from recent weakness.

The FTSE 100 Index stood 31.5 points higher at 6236 by mid-morning, with Vedanta Resources up 27p at 1118p and fellow miner Xstrata 47p higher at 2290p.

BP added a sizeable chunk of the top flight’s gains after rising 1%, or 5.5p to 542p.

Elsewhere, Currys owner DSG International stemmed the decline for its share price after yesterday’s trading update caused the stock to slide 12%.

With Comet rival Kesa Electricals painting a more encouraging picture of trading, shares in DSG rallied 3.25p to 174.25p, a gain of almost 2%.

Kesa, a FTSE 250 Index stock, also rose 5.5p to 348.5p as it delivered Christmas and new-year sales growth of 6.4% on a like-for-like basis. Among other top flight retail shares, Alliance Boots gained 16.5p to 790.5p.

Cruise-ship firm Carnival was high on the risers board after a survey from a trade body pointed to a strong start to the sector’s key booking season. Shares were up 93p at 2831p, a gain of 3%.

Software firm Misys delivered one of the strongest gains in the second tier after new boss Mike Lawrie said there was potential for the company to deliver much greater growth. While half-year operating profits fell £5m (€7.6m) to £36m (€54.8m), shares gained 13p to 240.25p.

Mothercare shares were lower after a disappointing Christmas trading update from the retailer, including a negative like-for-like performance in UK shops. The group’s recovery has forced shares higher in recent months, but this came to an end today with a drop of 11p to 372.5p.