MORNING REPORT: Headline shares made strong early gains with rising metals prices boosting miners and oil producers gaining on hopes of a quick recovery in Libya, and after a flurry of well-received interim results. In early deals, the FTSE100 was up 69.41 points at 5,164.71 with the FTSE250 ahead 144.22 points at 9,999 and the FTSE Smallcaps 4.72 points better at 2,921.78. US & ASIA In the US last night, the Dow rose 37 points at 10,855, the Nasdaq Composite added 4 points at 2,345 and the S&P500 was flat at 1,124. In Asia today, the Nikkei closed up 105 points at 8,733, while the Hang Seng was recently ahead 346 points at 19,833. LONDON MARKETS Early market action in London was driven by rising metals prices, with hopes that a new round of QE in the US will be forthcoming, aimed at stimulating growth. Gold hit new highs overnight, topping $1,900 an ounce for the first time. Miners enjoyed the rally in metals prices, with Antofagasta rising 34p at 1,246p after announcing a jump in interim profits as copper rallied. Elsewhere, Xstrata gained 29.55p at 962.95p and Kazakhmys added 29.25p at 954.75p. With gold topping $1,900 an ounce overnight, Rangold Resources and Fresnillo were in demand, up 42.5p at 6,912.5p and 10.5p at 2,049.5p, respectively. Oil producers warmed to an improvement in crude prices and hopes of improved supplies in the aftermath of the Libyan rebellion, with Shell up 27.5p at 1,963.5p and BP 4.98p higher at 395.18p. Meanwhile, Cairn Energy rose 3.9p at 293.6p after reporting a jump in interim revenues and profits.

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