Copper prices help 2% surge; market WATCH.

HEAVILY weighted banks and mining firms helped the London market surge almost 2% ahead yesterday with strong results and higher copper prices boosting investor confidence.

The FTSE 100 Index closed up 119.7 points at 6308.8, despite falls in early trading on Wall Street after US productivity figures missed expectations.

Stocks powered ahead in London, with investors picking up bargains after recent falls on the Footsie.

The banking sector has taken a battering in recent weeks amid growing concerns about the health of the sub-prime credit market in the US. But solid figures from the UK's top banks over the last week have seen investors return to the shares.

Asia-facing Standard Chartered rose 4%, or 68p, to 1638p, after it posted a 30% rise in first half pre-tax profits. Royal Bank of Scotland lifted 2op to 589.5p and Northern Rock was I9p ahead at 779p.

Miners too helped lift the market, with Anglo American the strongest riser, up H3p at 2798p, with Antofagasta also up 14.5P at 686.5p and BHP Billiton ahead 33p at 1366p.

But Xstrata, which has offered pounds 5oom for a South African platinum firm, suffered falls as investors digested news of the approach as well as first half results, with the performance of its coal arm disappointing..

The group led only two share fellers, off 59p at 2872P, or 2%. Tate & Lyle was the only other to lose ground, down 1.5p at 558.5p.

Back among the risers, outsourcing group Capita soared by 6% to lead the day's strongest performers. The group saw shares lift 39p to 748.5p. The biggest Footsie risers were Capita Group, Liberty International ahead 47p at 106ip, Standard Chartered and Hammerson up 50p at 1224p.