Indices jumped in New York overnight after positive news about consumer spending in the world's larg...
Indices jumped in New York overnight after positive news about consumer spending in the world's largest economy, and the FTSE 100 index is this morning up 60 points at 4,113.
A cyclical recovery would of course boost cyclical stocks, and WPP shares in London are today up 29.5p to 460p following the overnight gains by its shares traded in New York.
HSBC is gaining after yesterday's news it is to buy the second largest US consumer financing firm, and shares are currently up 35.5p to 715p in London.
Telecoms continues to perform well, with BT up 10p to 220p, but also poorly, with Cable & Wireless down 5.5p to 69p.
And Corus' woes continue as its shares lost another 0.75p to 26.75p.
Mid-cap stocks are picking up too, and the FTSE 250 index is up 23 points to 4,449.
Top gainer is Aberdeen Asset Management, up 3.5p to 50.5p on news that the FSA is to get tough on the investment trust sector and clear up the mess that has been mostly to blame for Aberdeen's capital losses this autumn.
Capital Radio's results yesterday brought no cheer and a slew of analyst downgrades today has wiped 12.5p off the share price, which now stands at 477.5p.
Overnight the Dow Jones Industrial Average index gained 143.64 points to close at 8,542.13.
The S&P 500 closed up 21.74 points at 904.27, while Nasdaq's Composite climbed 50.18 to 1,411.57.
It was a good day for Tokyo's Nikkei too as it climbed 200.20 points to 8,503.59, pushed along by the good US retail news: A third of Japanese exports go to the US.
Hong Kong's Hang Seng index is up 124.81 points at 9,865.65.
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