Morning Markets: FTSE rises as miners join forces

London markets were up this morning, with mining shares leading after two major players unveiled a j...

London markets were up this morning, with mining shares leading after two major players unveiled a joint iron ore venture. The FTSE 100 climbed 65.92 points (1.5%) in early trading to 4,452.86, with Rio Tinto and BHP Billiton ahead of the pack. Rio Tinto scrapped its plans for a tie-up with Chinese firm Chinalco, and revealed the joint venture with BHP. Rio shares climbed 10.29% to £30.00, while BHP added 8.72% to £15.83 per share. Other firms in the sector also made gains, with Vedanta Resources up 4.98% and Eurasian Natural Resources up 4.87%. Lloyds Banking Group shares added 2....