London open: Miners drive FTSE 100 near 6,000

30th Mar 2011 08:37

Miners are driving the top share index closer to 6,000 points, though the retail sector is under pressure following a profit warning from Dixons Retail.Vedanta, BHP Billiton, Antofagasta and Kazakhmys are among the big names in the mining sector posting gains.Elsewhere in the FTSE 100, oil company Tullow Oil has sold off two-thirds of the interests it holds in numerous assets in Uganda for a cash sum of $2.9bn, with CNOOC and Total snapping up a third each.Dixons Retail has slumped more than 10% after a profit warning. The PC World and Currys owner says consumer confidence has deteriorated, particularly in Britain and Ireland. That does not bode well for the high street and elsewhere in the retail sector, M&S, Next, Argos owner Home Retail Group and Comet owner Kesa Electricals are suffering.Domino's Pizza is also lower. Growth continued to slow at the pizza delivery company, blamed on tough comparatives and weakness in the Republic of Ireland. Like-for-like sales in 608 mature stores rose 4.2% in the 13 weeks to 30 March, down from 10.5% a year ago. They'd risen 4.7% in the first seven weeks and 11.9% in 2010.Housebuilder Bellway posted higher profits in the six months to 31 January after selling more homes at higher prices, but warned that consumer confidence remains fragile. Pre-tax profits rose to £24m from £19m, on turnover that was up to £407.9m from £360.8m. The interim dividend climbs to 3.7p from 3.3p.RG