RTRS: Commods help lift FTSE by midday, financials fall
Britain's FTSE 100 .FTSE index rose 0.6 percent by midday on Tuesday, the last full session of 2008, led by heavyweight energy and mining stocks.
Oil producers were the top-weighted gainers, as crude prices held steady below the $40 a barrel level. BP (BP.L: Quote, Profile, Research), Royal Dutch Shell (RDSa.L: Quote, Profile, Research) and BG Group (BG.L: Quote, Profile, Research) were up 1.4 to 1.9 percent.
By 1123 GMT, the FTSE 100 was up 25.91 points at 4,345.26, building on the previous session's 2.4 percent rise. However, activity was expected to be light.
The index is set to record its worst annual performance in its history, when the markets close at 1230 GMT on Wednesday.
"Commodities and resources have had a seesaw year in 2008, but I still like that sector overall, particularly with oil in the $30 range," said Martin Slaney, head of derivatives at GFT Global Markets. "I like gold ... as a long-term investment."
