FTSE follows US and Asia upward

FTSE follows US and Asia upward

The FTSE 100 is up 0.83 percent in early trading this morning, continuing on from a rise in both Asian and US shares.

Oil and miners are leading the surge, with BP up 2.2 percent and and Shell (LON:RDSA) up 2.25 percent. Glencore (LON:GLEN) shares are also continuing their upward spiral, trading up 3.61 percent. Oil shares are probably being helped by higher oil prices, with North Sea Brent crude up 1% higher this morning at $50.22 per barrel.

Data from Wall Street last week showed encouraging unemployment figures, with new employment benefit applications dropping to a 42 year low, alleviating fears of a slowdown in the US economy. Asian shares followed the US up on Friday, with the European markets now continuing that trend.

(1001GMT)