After a dismissal week of falling share prices, the FTSE 100 managed to regain its confidence and he...
After a dismissal week of falling share prices, the FTSE 100 managed to regain its confidence and head back into the 'blue'.
The FTSE 100 index closed up 0.5% to 4024.8p, having earlier in the day fallen yet again by another 0.7%.
Key ingredient was AstraZeneca. The huge pharmaceutical empire drove the FTSE 100 trading back over the 4,000 points mark after the US Food and Drug Administration said it would support approval for the sale of its cholesterol drug. AstraZeneca gained 95p or 4% to £25.00 exact by close of business.
The parent group behind IFA portal the Exchange - Marlborough Stirling - has also had a good day's trading after declaring it expects full-year revenue to be around 11% higher than its previous forecast. Share price closed up 7p or 26% to 34p.
British Airways also managed to close up 8.5p or 5.5% to 163p as its passenger numbers are up 5.8% thanks to reduced fares and the end of the Gulf War. This is also despite news that the EU may force airlines to pay compensation of Euro250 each time a customer's short haul flight is cancelled - a move which could dent BA's profit margins.
Hamleys managed to climb another 20.5p or 8.8% to 253.5p after Baugur Group HF - one fo the bidders for the toy store - increased its offer again to £58.7m. Waterstone's is now bidding 10p less per share than Baugur.
And in the US, stocks appear to be climbing for their fifth week in six, but stocks are currently down a fraction.
The S&P 500 index is down 4.1 points or 0.4% to 989.7 while the Dow Jones has so far fallen 44.76 points or 0.5% to 9098.08 and the Nasdaq is off 6.09 or 0.4% to 1672.6.
Despite improved risk appetite
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