UK shares put in a strong performance at the start of trading Thursday following firm gains across Asian markets overnight.
Investors globally were reassured by the Fed?s stance on quantitative easing, with Ben Bernanke saying ?a highly accommodative monetary policy for the foreseeable future is what?s needed in the US economy.?
At 08.30am, the FTSE 100 added 65 points at 6,570 whilst the FTSE 250 gained 136 points at 14,666.
Enthusiastic responses to trading updates from Footsie constituents (), owner of the Primark chain of clothes shops, and Ashmore (), the fund manager, gave the blue-chip and mid-cap indices an extra lift.
Gold stocks have had a hard time of it of late, but () is flying the flag for the sector this morning. Shares surged nearly 20% after the gold explorer said it got the green light to tender for gold mines in India.
The company revealed the Indian Supreme Court has instructed the country?s government to proceed with the tender sale of the historic Bharat Gold Mines (BGML).
The acquisition of the property, in partnership with the majority of cooperative societies of BGML ex-employees, is the centre-piece of the AIM-listed explorer?s strategy.
A string of small caps updated the market with their current trading performance and outlook this Thursday.
?s () news certainly pleased the market. Shares rose after the mobile marketing and digital entertainment solutions company said it saw record levels of new business in its MobiDialogue mobile marketing division in the first half of the year.
In an upbeat trading statement, the company revealed organic revenues rose more than 30% year-on-year, meaning the company will meet the market?s expectations for first half sales and underlying earnings (EBITDA).
(), however, failed to get investors in a fever. Shares hardly moved after the company said it remains confident of the outlook for the full year.
Turnover in the first half of 2013 rose by 4% to around ?22.0mln, in line with management?s expectations.
() lost some ground despite unveiling record numbers in its second quarter results.
The results mean the company's year-end numbers will be at the higher end of previous guidance, it told investors.
In M&A news, (, ASX:FTE) has agreed to merge with Leo Mining & Exploration (Leominex), a vehicle which owns a 48% stake in Toronto-listed ().
The all-paper deal gives Forte an interest in Mkango?s wholly-owned Songwe Hill rare earth deposit in Malawi, which is advancing through a pre-feasibility study.
Meanwhile, (CVE:FO, ) said investors in the Australian company that owns its exploration permits in the Beetaloo Basin, Northern Territory, have signed off Falcon?s acquisition of a further 24.22% of the business.
The C$22.6mln deal with Sweetpea Petroleum will give the London and Toronto-listed group 96.9% of Australia. The purchase is expected to close in the next five days.
And finally, note that Andrew West, chairman of (), plans to step down from the board later this year.
He is leaving due to his other professional and personal commitments, the company revealed.
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