London Stocks Maintain Gains After UK CPI

London Stocks Maintain Gains After UK CPI

FTSE 100 trades up 1.1% at 5719.51, maintaining strong gains after data show UK inflation fell sharply in December, in line with expectations. Heavily weighted mining stocks continue to post the biggest gains, with Kazakhmys up 2.8% and Rio Tinto up 2.5%, boosted by encouraging Chinese GDP data, which are supporting metals prices. Outside the FTSE 100, Afren surges nearly 9% after announcing an oil discovery in its core producing area offshore southeast Nigeria. Still to come, investors will eye the results of a T-bill auction by Spain at around 1030 GMT and the EFSF auction at around 1100 GMT.