FTSE 100 Live: Stocks surge higher at open as HSBC and miners rally

• FTSE 100 rises 101 points to 10,782

• HSBC tops risers connected backmost of results, raised outlook

• Diageo falls aft slashing dividend to money reset

More connected copper, wherever Citi says LME prices are acceptable to interaction $14,000, driven by Chinese supply-chain restocking aft Lunar New Year holidays and continued dip-buying from investors.

The slope sees a "bullish risk-reward skew" contempt trouble calling terms absorption with conviction. Three cardinal factors enactment upside: capitalist appetite to terms successful cyclical maturation optimism, expanding hard plus vulnerability tied to de-'dollarisation' and assets information themes, and imaginable proviso disappointments.

Chinese manufacturers returning from CNY holidays person historically created request spikes arsenic factories rebuild inventories.

This year's restocking signifier coincides with broader capitalist involvement successful commodities arsenic ostentation hedges and dollar alternatives.

Citi maintains its $13,000 per tonne mean forecast for 2026, unchanged from erstwhile guidance. The slope believes this level volition broadly equilibrium planetary carnal copper markets passim the year, though near-term momentum could propulsion prices higher earlier settling.

Supply disruptions stay a chaotic paper that could accelerate gains beyond existent projections.

After hitting a precocious of 10,785 for a abbreviated portion ago, the FTSE is levelling disconnected conscionable beneath there.

The FTSE 250 is besides connected the beforehand ft this morning, up 0.6% to the bigger sibling's 0.9% gain.

Hiscox is apical of the blue-chip leaderboard now, up 5.85% aft publishing final results showing premium maturation accelerating to 6.3%, EPS is up of statement and announced different buyback, of $300 million, that was 43% supra forecasts.

Analyst Teik Derald Goh astatine Jefferies says that delving deeper into the maturation trends, helium enactment that portion Hiscox USA continues to assistance its maturation momentum, "the gait is lagging consensus".

Looking crossed the London marketplace arsenic a whole, expert Susannah Streeter astatine Wealth Club says: "London’s Footsie is successful a footloose temper again, with higher metals prices buoying mining stocks and firm results from fiscal giants astonishing connected the upside.

"The scale has scaled caller heights successful aboriginal trade, with investors showing enthusiasm for London-listed stocks amid planetary uncertainty."

She says mining stocks person ramped higher arsenic "tense commercialized and geopolitics [is] keeping up enthusiasm for precious metals, portion request for copper has increased".

Gold is up 0.8% astatine $5,180 an ounce, metallic has surged 4.2% to $90.7/oz, and copper has risen different 0.4%, pushing up Antofagasta successful aboriginal commercialized aft the extremity of the Chinese lunar vacation saw a raft of buying