From midday onwards the FTSE 100 held onto a modest gain which maintained its four day rally th...
From midday onwards the FTSE 100 held onto a modest gain which maintained its four day rally that's seen the index recover 5% from the 33 month low it hit in July. Even so, the index is still off nearly 11% so far this year.
After a subdued day's trade the FTSE 100 had 60 gainers and 35 losers but there were few obvious sector trends. The index finished up 17.8 points to 5546.9.
Gains among the FTSE 100 were capped at just under 6% by telecom equipment group Spirent, up 11.75p to 200.75p. Invensys followed with a gain of 4p to 89p.
FTSE 100 losers were capped at a 4.5% loss from retailer Kingfisher. The group admitted it might have to cut its full-year dividend following the demerger of Woolworths, which it announced today.
Royal Bank of Scotland improved 34p to 1634p adding 4 points to the FTSE 100.
Index heavyweight Vodafone slipped 1.75p to 151.75p taking 5 points off the FTSE 100. The telecom sector dropping back today following its recent rise.
Over in the US at midday the main indices were all higher. Tech stocks were boosted by a bullish statement from Merrill Lynch who stressed the worst may be over for semiconductor shares. Intel and Texas Instruments both fared well. Texas Instruments was up $2 to $36.50 and Merrill raised its recommendation on the company for the next 12 months to buy. Intel climbed 70 cents to $30.51.
The Dow Jones was up 57 to 10580, the Standard & Poor's 500 improved 9 to 1220 but the Nasdaq shined brightest with a gain of 2069 to 42.
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