FTSE follows US lead up

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Overnight gains on US markets helped push the FTSE 100 index up 5 points to 4,856 this morning as in...

Overnight gains on US markets helped push the FTSE 100 index up 5 points to 4,856 this morning as investors piled back into telecoms, technology and pharmaceutical stocks. Vodafone made a 1.5p recovery to 98.75p, chipmaker arm moved up 5.5p to 171p despite the news it is to be relegated to the FTSE 250 when the latest FTSE quarterly stock re-shuffle, and GlaxoSmithKline has reversed several weeks of poor performance by adding 34p to £13.86 today. Bank stocks are performing poorly, with Abbey National falling another 26p to 870p, Lloyds TSB down 13p to 677p, Barclays down 6.5p t...

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