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Market report.

The London market was on the front foot today as it recouped some of the losses from the previous session.

The FTSE 100 Index rose as investor sentiment lifted following the US Federal Reserve's report yesterday that the impact from the global credit squeeze would be limited.

The City also held its nerve ahead of the Bank of England's interest rate decision due later today, which is widely expected to see rates held at 5.75%.

Mining firms jumped ahead with Rio Tinto leading the Footsie risers - up 136p at 3661p.

Lonmin followed with a gain of 103p to 330p.

A new oil discovery in offshore Brazil meant BG Group enjoyed a lift of 21p to 807.5p.

Electricity generator Drax topped a handful of fallers, down more than 4%, or 28.5p, to 647p despite posting a 21% rise in interim earnings as higher realised prices offset lower output.

In the second tier, support services group Amec surged nearly 6%, or 37p to 692p, after the disposal of non-core business helped it swing into profit during the first half of the year.
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Title Annotation:Business
Publication:Evening Gazette (Middlesbrough, England)
Date:Sep 6, 2007
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