Private wealth investors see FTSE rise

Investors using their private wealth to trade on the stock market will have seen the FTSE 100 climb during the morning session today (May 27th).

Reuters reports the index was up 0.8 per cent to 5,077.47 points at 09:25 BST, thanks largely to gains from mining and energy companies.

BG Group, Royal Dutch Shell, Tullow Oil and Cairn Energy were all higher as the market opened, while BP also gained despite continuing worries over the oil leak in the Gulf of Mexico.

Rising metals prices helped mining shares perform well, with gains of as much as 2.9 per cent being recorded by Lonmin, Anglo American, Xstrata, BHP Billiton, Rio Tinto and Kazakhmy, the news agency stated.

However, GLC’s Steven Bell warned the market - which has fluctuated this month - is still facing concerns, chiefly the ongoing debt problems in the eurozone.

The biggest issue at present ’is whether the fall has shaken out enough long positions so that people are prepared to start buying again’, he was quoted by the news agency as saying.

The FTSEurofirst 300 index of European shares was also higher, rising 2.1 per cent to 992.47 points at 10:55 BST.ADNFCR-2318-ID-19803952-ADNFCR