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 to 567.5p and HBOS down 8p to 767p.
Insurers were down too; CGNU slipped 16p to 555p after today's report that the FSA has raised the number of companies in the sector it deems to be high-risk according to its solvency rules.
The FTSE 250 mid-caps index is up 9 points at 5,920 despite the news that software and services company AIT is looking for a buyer to get it out of trouble.
Marconi and Dimension Data were two of the better performers so far, up 0.29p to 6.84p and up 1.5p to 51.5p respectively.
Bodycote is up 6p to 227.5p after a buy recommendation from CSFB.
Last night the Dow Jones Industrial Average put on 100.45 points to 9,617.71 and the Nasdaq Composite added 21.94 to 1,519.12 by the close.
Tokyo's Nikkei 225 dropped 182.22 to 11,144.84 on continued worries over the government's handling of a recent credit ratings downgrade applied to government debt and overnight news that exports to the US might not be improving as much as thought.
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