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Mining sector continues to support FTSE

The FTSE has managed to cling onto positive ground thanks to the mineral extractors. 

FTSE up five points

The FTSE 100 is up five points as it sets to close around the 6820 level. Mining is worth its weight in gold at the moment, as it is the only sector propping up the market. The recent cooling-off in the commodities supercycle has meant that natural resource stocks are now undervalued. 

Aberdeen Asset Management suffered a large outflow of funds in December as customers cashed in on the equity market rally. Ocado continued to deliver impressive revenue over Christmas, while bike specialist Halfords is gearing up for a strong 2014. 

US markets in red

In the US equities are in the red after the S&P 500 closed at a record high last night, while disappointing results from Citigroup have not helped investor confidence either. The latest jobless claims figures came in slightly ahead of expectations, however, sending the message that tapering by the Federal Reserve is still justified.

US drives China lower

Copper is in the red as reduced lending in China is off, and concerns over continued tapering in the US has driven the metal lower. 

Aussie pulled down by unemployment

The Australian dollar dipped below the $0.88 mark as the country's unemployment rate holds still at 5.8%. The Reserve Bank of Australia slashed rates last year, and the latest jobs data does not offer a great start to 2014. 

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