London Shares Hit 12 Year High

London shares jumped higher on Tuesday after the benchmark FTSE 100 index reached its best level since September 2000 on Monday. The shares were lifted by strong mining stocks.

The FTSE soared 8.87 points or 0.13% to 6.764.50 points at 9:07 A. M. It closed on its all time high of 6,930.20 points set on December 30, 1999. Shares in resources companies recovered sharply after an overnight reverse in the recent declining trend in precious metal prices.

Antofagasta was reported to jump 5.13% to 973.50 pence, Fresnillo surged 5.03% to 1,086 pence. Polymetal gained 4.62% to 645.50 pence and Ango American rose 2.83% to 1,597 points.

Outsourcing specialist Capita gained 4.85% to 995 pence as it revealed that it has been chosen as preferred bidder for a 10-year partnership with mobile phone networks 02.

Final negotiations are on, with the 10 year contract expected to be worth about £1.2 billion to commence in 1 July 2013, said Capita.

Vodafone shares eased 0.13% to 197.35 pence in the wake of the mobile phone giant's results for its full year to March. The net profit tumbled 90% after the economy experienced a vast impairment charge associated with its businesses in debt-laden Eurozone national Italy and Spain.

U. K. stocks were little changed, after the benchmark FTSE 100 Index rallied to its highest level yesterday since September 2000.


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