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FTSE higher as insurance shares rise

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(Open): The FTSE 100 opened higher as trading resumed after the bank holiday weekend, with insurance shares helping to lift the index.

The FTSE 100 was up 40.33 points, or 0.7%, at 6,146.81.

Shares in RSA Insurance rose 2.3% to 477.90p after both Barclays and Deutsche Bank raised their price targets for the stock.

Other insurers also rose, with shares in Prudential rising 2.6% and Standard Life up 1.9%.

Mining stocks slipped, with BHP Billiton down 2.6% and Anglo American 2.4% lower.

On the currency markets, the pound rose nearly a cent against the dollar to $1.4231, and climbed 0.5% against the euro to €1.2728.

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