Traders are betting that weaker economic growth will result in interest rate cuts before the end of ...
Traders are betting that weaker economic growth will result in interest rate cuts before the end of the year, and the FTSE rose as a result this morning, gaining 90 points to 4,185. The surge was led by mining and media stocks, with Xstrata up 36p to 620p, Anglo American up 48p to 828p, and WPP up 24.5p to 460p. These gains were significantly counterbalanced by the big 25.75p loss to 117p encountered by Royal & Sun Alliance after it reported results. The company said first half earnings were down 18% on the same time last year, and it may have to sell new shares to fund...
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