Morning Markets: FTSE climbs despite dire GDP figures

The FTSE 100 remained ahead in late-morning trading, despite figures showing the UK economy shrankby...

The FTSE 100 remained ahead in late-morning trading, despite figures showing the UK economy shrankby 1.9% in the first quarter of 2009. The main index was up 38.54 points (0.96%) to 4,056.77 at 11am BST. Mining firms performed well in early trade, with Xstrata adding 5.8% to 555.5p, while Kazakhmys added 4% to 495.75p. Cable & Wireless added 1.8% after the tech and internet sector saw positive results in the US. Investment firms offset the blue chip index's gains, with Schroders down 3.7% to 732p while Schroders NV dipped 4.6% to 646p. On Wall Street, shares climbed after good news ...