The top share index was surprisingly quite modest in the early hours of the trade, while the shares from both the banking and mining sectors further boosted the FTSE 100 up a notch. Russian steelmaker Evraz garnered a 1.77 % rise while Miner Eurasian Natural resources went up nearly 1.7 % almost similar with Evraz in its early deals during the trade. It was during the last week that Kazakh-focused miner rocketed more than 9 % as it was expected from recent reports of an increase in demand for ferrochrome. Precious metals miner Polymetal landed 1.05 % of its trade earlier.
FTSE 250-ranked Essar Energy went up 4.4 % while the India-focused oil refiner reported a soar in its refining margins in its early trade. UK banking shares showed positive signs in its recent trade. Barclays increased 1.05 %, Standard Chartered went up 1.18 %, and while HSBC added 0.8 % and Lloyds banking Group rallied a remarkable 2.76 %. Supermarkets also yielded in the positive zone early in the trade with Tesco slightly rising to 0.95 % and a 1.12 % rise for Morrison.
At the other end of the trading continuum, engineering and oil shares weighed heavily on the FTSE 100. Chip maker ARM Holdings plummeted down 3.32 % as the largest blue chip loser. Transitory power firm Aggreko went up at the latter half of last week after HSBC revealed its advance went down 1.51 % in its early trade. Moreover, fellow engineer John Wood Group slid down at 0.9 %.
Explorer Tullow Oil with its long overdue full-year results this week went down 1.1 % after reduction efforts from Investec. Results outside the blue chips are less than remarkable as software provider Kofax sank more than 12 % as seen in its reports of falling income and adjusted earnings in the later quarter of last year. News in the Asian market also reported several dips with Nikkei closed down 1.8 % while US Dow Jones’ final close was only up to 0.35 %.