As expected, Abbey National has again rejected Bank of Ireland's £16bn takeover deal, but it has hel...
As expected, Abbey National has again rejected Bank of Ireland's £16bn takeover deal, but it has helped to lift the FTSE back over the psychological 4,000 barrier.
The FTSE 100 Index climbed 74.70 points or 1.9% to 4006.60 within the first hour of trading on Tuesday, led by Abbey National which gained 43.5p or 7 % to 661.5p.
GUS, the catalogue retail company,also rose thanks to improved sales at Argos for the first half of this year. Gus climbed 7p or 1.3% to 545p because of higher demand for home deliveries.
And Bellway Homes beat analysts expectations to increase its fiscal 2002 profit by 24%. Its share values rose 13.5p or 2.9% to 478p because demand for housing still outstrips availability.
Argonaut Games surged 2p or 12% to 18.5 as it reported a full-year profit from a loss, after it sold more games such as Harry Potter & the Philosopher's Stone.
But St. Ives, the publisher whose clients include Bloomsbury Publishing Plc and AOL Time Warner, dropped 6p or 2% to 292.5p. Full-year profits dropped by more than half after demand for financial documents declined and ad spending eased. The shares were unchanged at 298.5p.
In Asian, trading improved on yesterday thanks to a rally by the close of trading in the US and optimism of more exports to the US.
Taiwan, Japan and Hong Kong all had their highest gains in seven months, as the Nikkei 225 rose 3.6% to 8836.73 and Hong Kong's Hang Seng Index soared 3.9% poised for its biggest gain in 12 months.
Taiwan Semiconductor Manufacturing led the TWSE Index's 5.6% surge, its biggest in more than 10 months.
But Indonesia's Jakarta Composite Index tumbled for a fifth day, alongside indices in Malaysia, the Philippines, New Zealand and China which also fell.
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Responding to letter from Treasury Committee chair Nicky Morgan