Miners push FTSE 100 up

Miners pushed up Britain's leading index this morning after Rio Tinto reported better than expected results. Rio said that net profits for 2009 were up 33% due to record sales of iron ore and an increase in copper and gold production. Is said that its net profit was $4.872bn last year, up from $3.67bn in 2008. "Strong volume gains, primarily from record iron ore sales and a significant increase in copper and gold production, boosted earnings," the company said in a statement. Rio was also cautiously optimistic about commodity prices, forecasting that they would recover but might be volatile as governments rein in stimulus spending. Shares in Rio were up 119.5p, or 3.81%, at £32.59. Xstrata's shares were up 37p, or 3.65%, at £10.50 and shares in Anglo American were up 78p, or 3.35%, at £24.06. The FTSE 100, was up 1.2% at 5191.42.