Mining sector aids FTSE

In mid-morning trading the FTSE 100 is up over 20 points, as the mining sector helps to ease the UK markets higher.

The EU current account has come in considerably stronger than expected, and has added to general confidence of European equity markets. The reasons for equity traders' caution still linger; however, for the first time in a number of weeks, these worries are hovering in the background rather than at the forefront of traders’ minds. 

The ramifications of the Egyptian uprising continue to have knock-on effects for BG Group, with the company cutting 300 jobs in the UK and even more in Australian operations. 

A fresh Pandora ’s Box could have just opened for RBS, with the first of possibly many clients being allowed to sue the company over the mis-selling of interest-rate swaps. 

The 'Yes' team in the Scottish independence vote has suffered another knock, with news that BAE Systems will be reviewing all contracts carried out north of the border ahead of this year’s referendum.  

After Federal Reserve chair Janet Yellen surprised the markets with her comments inferring timelines for the US to start increasing interest rate we could see a little further expansion to this, as three members of the Federal Open Market Committee team are due to speak over the course of today. 

As traders have benefited from a broadly positive week it will be interesting to see if any profit-taking and reduction of exposure transpires during the US trading day ahead of the weekend, especially as there is still ample opportunity for Crimean disagreements to escalate.

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