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LONDON (AFP) – London surged higher in morning trade on Tuesday with mining shares boosted by record metals prices, amid hopes of further stimulus measures for the US economy

In late morning deals, the FTSE 100 index rallied 1.02 percent to 5,829.23 points, boosted also by an upbeat trading update from retail giant Tesco.

Commodity markets rallied sharply, with both copper and gold striking record high points, while crude oil traded at the best levels for more than two years.

"The FTSE 100 powered higher ... on the back of a strong performance in the mining and retail sector," said analyst Joshua Raymond at financial spread-betting firm City Index.

"The miners are benefiting from correlated strength in commodity prices, with copper prices rallying in London hitting a record in the process, whilst crude oil prices have also edged higher."

On the London Bullion Market, gold rose to a record pinnacle at 1,428.55 dollars per ounce, dragging sister metal silver to another 30-year high.

And on the London Metal Exchange, copper for delivery in three months soared to an all-time peak 9,014 dollars a tonne.

Equities were also buoyed as traders mulled the chance of the US Federal Reserve launching a fresh round of monetary stimulus if the world's biggest economy remains stuck in the doldrums.

Fed chief Ben Bernanke said in an interview to CBS television broadcast Sunday that "it's certainly possible" that the Fed might inject into the markets more than the 600 billion dollars decided on last month.

In addition, analysts said that a promise by US President Barack Obama to extend tax cuts by two years would also bolster financial markets.

Obama, bowing to his Republican foes in their first major battle since the November election, agreed to extend tax breaks for the wealthiest Americans under a sweeping deal aimed at averting a big 2011 tax hike.

The president yielded in the deal announced late Monday, which extends tax cuts enacted under former president George W. Bush for all income brackets despite his earlier push to exclude top earners.

"Obama's extension of the Bush-era tax credits has the prospect to add some seasonal cheer but the eurozone debt issue continues to linger," said IG Markets analyst Chris Weston.

Later on Tuesday, investors will revisit those concerns, as debt-riddled Ireland unveils its latest austerity budget.

Irish finance minister Brian Lenihan will deliver a 2011 budget that will contain a combined 6.0 billion euros (8.0 billion dollars) of taxation hikes and spending cuts.

The statement will be the first in a series of budgets to implement a total fiscal correction of 15 billion euros over the next four years.

The deal with the EU and the International Monetary Fund for 67.5 billion euros in external loans and guarantees, plus 17.5 billion taken mostly from Ireland's public pension fund, has angered citizens.

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NEW YORK – Shares of SodaStream International Ltd. surged in their first day of trading on the Nasdaq Global Market Wednesday.

The stock jumped $4, or 20 percent, to $24 in late morning trading.

The Israeli company, which makes home beverage carbonation systems, raised $109.5 million in its initial public offering of 5.5 million shares. The company priced the IPO at $20 per share, the top end of its estimated range.

The underwriters have a 30-day option to buy up to an additional 817,105 shares to cover excess demand.

SodaStream's home beverage carbonation systems can help consumers convert tap water into carbonated soft drinks and sparkling water.

The stock trades under the "SODA" ticker symbol.

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Smiths Group already provides some United States scanning cargo explosive devices designed to detect. No decision No has yet been taken as to whether UK purchase of new hardware scanning, but Theresa may, the Home Secretary is committed to explore Britain's air cargo security.

Monday, Smiths Group said the industry as a whole had been pressing explosives screening can be extended to the air cargo during a certain time and that strict, standardized for explosives detection air cargo regulations should be applied internationally.

Defence of peers, BAE Systems, Cobham and mid-cap QinetiQ donning 353.1 8.4 p, p 3.2 234.8 and slight 3.8 respectively.

BAE had too many news of its own - it has been selected among a number of potential contractors to develop intelligence and security for the FBI, giving access to a portion of a contract BAE Systems useful both to $30bn (￡ 18 7bn).

Their earnings came a day when the closure of the FTSE 100 points 5694.62 19.46.Investors have been keeping their powder dry ahead of a number of key events to determine the outcome of the meeting of the Federal Reserve for tomorrow.

Distributed on the rise of China manufacturing data has helped raise the minors with Xstrata reaching 45 p ￡ 12.54? and Kazakhmys up 23% to ￡ 13.39.

But at the other end of the scale, outsourcing giant that Serco tumbling 587 p 27 after apologising asking suppliers to a 5pc 2 cash rebate on labour this year or losing future risk contracts.

Numis analysts has moved their rating on Serco to "reduce" from "hold", saying that the revelations suggest "some reputation damage".the broker said that if Serco is able to obtain economies through the supply chain, then there is to be on the current question marks to 6pc margin and its 6 3pc target for 2012.

Join Serco among the laggards, was the following, which throw 46 percent to ￡ 22,39, as the issue of the increase in cotton prices weighed on investor.

Analysts from Liberum Capital downgraded the high street retailer "neutral", as they considered clothing "benign slander" inflation.

"In an environment of low growth, a low level of inflation is a good thing for a retailer, if they can passer.Cependant with cotton to China in 35pc since July and also growing artificial fibres price, esti?ate mixed year on year price increases have spent 8 1pc 9 7pc,"said broker.""

Analysts think retail guided increase 5MC with 8pc following prices has now appears to be low and believe that gross margins for the following detail fall a "modest" 30 basis points in the second half and 50 basis points next year.

Conserved RBS analysts "hold them" rating on following before third quarter trading update on Wednesday, but increased their target price at ￡ 20.90 ￡ 19.50.

'We expect to report a deceleration in sales momentum to directory and the retail divisions' said the dealer.

Fashion retailer ASOS tomb AIM listed online 92 p in the ￡ 13.25 after KBC Peel Hunt cut its rating to "sell" to "hold" for reasons of evaluation .the analysts have argued that, although it remains a high growth company as actions already full price of ￡ 2015 billion sales target direction ASOS, there are risks for the inconvenience.

Return among blue-chips, commercial capital centres dispose 4? 379.9 p .the ' fall came as Panmure Gordon downgraded real estate "neutral" from "overweight".

Analysts have retained their "sell" rating on the capital shopping centres, saying that their "fundamental concern with the company remains its ability to achieve growth like-for-like rental, from the perspective of a business environment more difficult for many retailers.

Weir was subjected to profit-making aim, fell 21 percent to ￡ 15.37.

In the FTSE 250, happened points 31.78 10875.28, recruiters were leaping up to the classification through Credit Suisse.Dans thrust a note on the professional staffing, increased analyst Michael Page "outperform" from "neutral" area, saying that the potential for significant growth is not reflected in the price of the broker actions.Le also raised Hays "upgrade" to "neutral", arguing that the international expansion will be more than offset a British market more difficile.Michael page checked 18.6 percent 489.8 while Hays has increased by 3.3 percent 113.8.

But at the other end of the spectrum, Melrose resources dragged 54.8 at 270 p after a Canadian oil and gas company Sterling Resources, ended his farm in agreement with the British Explorer Romania.

Cosalt, oil services group climbed 0.62 to 4?p Monday after confirming that he had contacted is a potential bid for its maritime activities.

However, the company stated that discussions were not "sufficiently advanced that no proof that a transaction might be reached.

The Daily Telegraph reported Saturday that Cosalt was in talks to sell his company Survitec maritime safety equipment of back-to-back privé.Le capital group survival belonged to Warburg Pincus technology thought lead continuing to acquire Cosalt Navy m ￡ 25 to 35 million pounds, but it could still facing competition from rival bidders.

Cosalt Marine, hardware client services including canoes rescue and survival suits, made operating profit before one-time items of ￡ 1.3 m within six months of may, on the revenue of ￡ 30.7 m.La society stated at the time that the company had put in a "performance resilient given the market environment.

The Group made a loss before tax of ￡ 1.5 the period of six months on the revenue of ￡ 48 m.3 m.

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