After yesterday's downfall, the FTSE bounced back as some investors judged yesterday's slide to a 33...
After yesterday's downfall, the FTSE bounced back as some investors judged yesterday's slide to a 33-month low unjustified given the outlook for earnings growth.
Also a strong overnight performance of US stocks suggests that markets will open higher today.
The FTSE 100 rose 16.20 points or 0.3% to 5291.90 from a two day drop of 2.4%.
Among stocks that have known substantial rise are Rio Tinto by 49p to 1115 and Prudential that gained 25p to 836 after announcing a rise in operating profits of 11%. Marconi, the phone equipment maker marginally rose by 2.5p to 88.5 struggling out of its nine day decline of 23%.
Wall Street knew a rally yesterday after regular trading led by better than expected profits from SBC Communications and Corning Inc.
US computer related shares were among the most active in extended trading. Cisco Systems, producer of internet equipment, rose 5% to $18.75, Corning, the maker of fibre and cable for optical networks, gained 52 cents to $14.29.
The Dow Jones jumped 165 points to close at 10406 and Nasdaq rose 25 points to 1984.
The Nikkei 225 is down again after its two day rise, it lost 33.05 points to 11858.56 after there was speculation that government related funds were being bought to uphold share prices prior to the upcoming election.
Japanese phone equipment stocks fell, led by Matsushita Communication, the nation's biggest phone maker, reversed its first half profit forecast to a loss.
There are concerns as Hong Kong's Hang Seng Index fell by 73 to 12141.27 in anticipation of disappointing interim results from the banking sector.
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