Morning Markets: FTSE heads higher on Man City owner speculation

Speculation about Middle East investment in UK property firms has boosted the FTSE, which hit a ten month closing high yesterday.

Shortly before 9am, London's blue chip index was up 20.19 points (0.42%) to 4,775.65 with reports Manchester City football club owner Sheikh Mansour bin Zayed Al Nahyan is set to splash out billions of pounds investing in the UK property market. Commercial property firm Hammerson gained 5.59% to 419.5p, while British Land Co and Land Securities Group added 5.56% to 520.5p and 4.79% to 656.5p respectively. Kazakhmys is up 3.5% to 932p while Vedanta Resources climbed 2.88% to £18.60, boosted by copper prices which have seen an increase for the fifth week running and increased metal dema...