FTSE opens higher on mining and oil stocks

The FTSE 100 opened slightly higher this morning after last night's falls as energy and mining stocks lifted the index.

Opening at 4,281.80, the FTSE gained just eight points by 09:24 GMT as economic uncertainties put pressure on share prices.

Tullow Oil rose 7.61 per cent in early trading on new oil finds, while Eurasian Natural Resources was up by 4.17 per cent.

Meanwhile, the Madoff scandal has sent several financial stocks plunging.

HSBC, which has confirmed a $1 billion exposure to the failed fund yesterday, saw its share price fall 3.21 per cent, while shares in hedge fund Man Group, which also invested in Bernard Madoff, dropped 5.22 per cent.

Overnight, the US Dow Jones ended slightly lower, falling by 0.75 per cent, while Japan's Nikkei dipped 1.12 per cent and Hong Kong's Hang Seng rose by 0.55 per cent.