Gold prices hit new record high
Monday November 23 2009
The London market forged ahead on Monday as a new record high for gold prices saw miners storm up the risers board.
Commodities were also on the rise as investors switched out of a weakening dollar.
The FTSE 100 Index climbed 79.7 points to 5331.1 - a gain of 1.5% - by lunchtime as the heavyweight mining sector reaped the rewards of the rising precious metal price.
Only a handful of Footsie stocks were in negative territory as traders shrugged off the jitters of the previous week.
In a quiet day for corporate news, miners took most spots on the top flight risers board.
Gold miner Randgold Resources was among the biggest gainers, helped 3% or 170p higher to 5120p as gold hit another new record above 1167 dollars an ounce at one point.
Platinum firm Lonmin was also at the top of the league adding 68p to 1761p amid higher metals prices across the board.
Hopes of a bidding war for Cadbury also helped the Dairy Milk maker advance.
The chocolate giant ticked up again to reach its highest level this year - up 13.5p to 814p - after weekend reports fuelled expectations that Kraft's hostile offer could be trumped by fellow US firm Hershey.
Banking giant Barclays was also the leading performer on a good day for the sector amid reports it had restarted talks over selling its private equity unit. The shares added 8.55p to 312.8p.
Press Association
