London shares opened higher on Monday, with the FTSE 100 recovering part of Friday's fall as mining stocks gained and investors looked ahead to the Budget on Wednesday.

The FTSE 100 index opened up 48.28 points, or 0.5 per cent, at 10,738.64. The FTSE 250 rose 141.59 points, or 0.6 per cent, to 24,378.98, while the AIM All-Share added 6.27 points, or 0.8 per cent, to reach 752.94.

Computacenter leads the risers

Computacenter was the standout performer in early trading, jumping 6.1 per cent after raising its full-year profit outlook following stronger-than-expected trading in the third quarter. Mining shares also advanced, with Antofagasta up 2.9 per cent and Fresnillo gaining 2.5 per cent.

The rebound came after the FTSE 100 closed down 1.01 per cent at 10,673.94 on Friday, when metals and oil shares sold off. Sterling was quoted at 1.3347 US dollars early on Monday, slightly lower than 1.3376 dollars at the London equities close on Friday.

The Cboe UK 100 was up 0.6 per cent at 1,065.84 in early trading, while the Cboe UK 250 rose 0.8 per cent to 21,475.87. Attention now turns to the UK government's Budget on Wednesday, which investors expect to shape the outlook for taxes, spending and borrowing in the months ahead.