FTSE advances despite weak US growth figures

London's leading share index is continuing to build on yesterday's gains despite US GDP growth remaining muted at 1.8% in the first quarter.

The figure disappointed economists who had expected GDP to be revised to 2.2% for the quarter. Meanwhile the country's corporate profits fell for the first time in over two years, raising fears the recovery has stalled. The FTSE 100 was up 1% or 59 points to 5,940 in early trading, driven by miners, as Lonmin, Rio Tinto, Xstrata and Kazakhmys headed higher. The latter announced this morning its proposed listing on the Hong Kong stock exchange will not involve the issue of any new shares. Banking stocks are also stronger, with Lloyds, Barclays and RBS making gains. On the FTSE 2...