LONDON Dec 28: Britain’s leading share index pushed higher at the start of the final full trading session of 2012, lifted by expectations that a last-chance round of U.S. Budget talks will finally bear fruit.
U.S. President Barack Obama and lawmakers are set for final negotiations before a New Year’s Day deadline to reach a deal and avoid major tax hikes and spending cuts that could drag the economy into recession.
Obama and Vice President Joe Biden will meet congressional leaders from both parties at the White House on Friday at 2000 GMT.
Heavyweight energy stocks and miners led the blue chip gainers as copper prices and Brent crude rose on Friday on expectations that a resolution of the ‘fiscal cliff’ the United States is facing will ease concerns about weakening demand for commodities.
At 0803 GMT, the FTSE 100 index was up 17.71 points, or 0.3 percent at 5,972.01. The UK blue chip index closed almost flat on Thursday after negative comments on the budget from a top U.S. Lawmaker sparked a sell-off in New York.
But U.S. Blue chips rallied late on, ending just 0.1 percent lower, and Asian stocks moved higher on Friday reflecting hopes the eleventh-hour talks in Washington could lead to a resolution.
(AGENCIES)
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