UK stocks rose as shares of both Smith & Nephew and Invensys advanced again this morning. S...
UK stocks rose as shares of both Smith & Nephew and Invensys advanced again this morning.
Smith & Nephew shares jumped after yesterday's decision to buy Centrepulse AG for £1.7bn, and the shares advanced from 8p or 2.2% to 376p. Invensys, also a poor performer this year, gained 1p or 7.6% to 14.25p.
The benchmark FTSE 100 Index rose by 1.3%, or 48p, to 3813.7 while the FTSE All-Share Index advanced 18.91p or 1.1%, to 1823.15p.
In Asia, stocks advanced this week after the US began an attack on Iraq and the largest gains could be seen in shares of Asia's largest companies such as Honda Motor and Samsung Electronics. Honda and other transport stocks largely contributed to the Topix index gain of 2.7% to 807.48p.
Japan's Nikkei 225 Stock Average jumped 2.4% to 8195.05p, and South Korea's Kospi index reached its first weekly gain in four with 7.1% to 575.77p. The TWSE index in Taiwan also advanced with 2.5% to 4586.92p.
The world's largest supplier of made-to-order chips, Taiwan Semiconductor Manufacturing jumped 6.6% to NT$48.50.
In the US, stocks climbed as war against Iraq commenced its second day. The Dow Jones closed up yesterday, gaining 21.15p or 0.26% to 8286.60p and S&P 500 also rose with 0.26% or 1.82p, to 875.84p while the Nasdaq climbed 5.70p, or 0.41%, to 1402.77p.
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