Gold miners benefited in London with Fresnillo up 4.8 per cent, or 37p, to 802p, Endeavour Mining adding 3,3 per cent, or 56p, to 1781p and Hochschild rising by 2.5 per cent, or 4.6p, to 190.6p.
The Energy Secretary struck a deal with the FTSE 250 firm to provide fresh subsidies for its wood-burning biomass site in North Yorkshire, which produces around 5 per cent of the UK’s electricity.
MARKET REPORT: Drax powers up after Miliband subsidies deal Shares in controversial power plant Drax made gains after Ed Miliband agreed to hand the company yet more taxpayers’ cash despite a blazing row over its environmental credentials.
Gold hit another record high of $2911 an ounce after Donald Trump said he would slap tariffs of 25 per cent on steel and aluminium imports to the US.
British Airways owner International Consolidated Airlines Group (IAG) went the other way, slipping 3.5 per cent, or 12.9p, to 353.4p, after analysts at Goldman Sachs cut their rating on the stock from ‘buy’ to ‘neutral’.
