Market overview: Citi reiterates buy on Glencore

1034: Analysts at Citi have reiterated their 'buy' recommendation on shares of Glencore and upped their target price to 160p.

0905: Stocks have started the first of two holiday weeks higher, led by gains in miners and commodity-related stocks such as Anglo American and Glencore. Acting as a backdrop, oil futures have begun the morning with renewed weakness, sliding 1.12% to $36.47 per barrel on the ICE. The euro is little changed at 1.0860. Spanish ten-year bond yields are up by 12 basis points to 1.81% following the inconclusive result of Sunday´s national elections. European equities however seem to be brushing off the political impasse in the Mediterranean nation. FTSE 100 up 51.14 points to 6,103.47.