The FTSE 100 surged in afternoon trade to finish the session 143.3 points higher at 5153.1. The...
The FTSE 100 surged in afternoon trade to finish the session 143.3 points higher at 5153.1. The boost came from the US after a government report showed US inventories fell for a third month in August and sales were on the up. The figures suggest that before the terrorist attacks companies were making headway into clearing excess stock.
Leading FTSE 100 gains though was software group Sage. The group allayed city anxiety after it said full year figures are expected to be in line with market expectations. The stock advanced 21.5p to 191p. The FTSE 100's biggest loser was Friends Provident who fell 8p to 172p.
Oil companies contributed most to the FTSE 100 gains after OPEC said it is considering cutting supplies to support oil prices. Index heavyweight BP put on 21.5p to 590p following the news and Shell added 27.5p to 543p.
Over in the US all the key indices were higher at midday, boosted by the encouraging inventory data. Semiconductor stocks fared especially well with the sector considered to be one of the best potential performers should the economy experience an upturn.
The Dow Jones added 111 to 9163, the Nasdaq was up 15 to 1071 and the Standard & Poor's 500 lifted 26 to 1596.
Total funds on list rise from 26 to 58
What made financial headlines over the weekend?
Q2 net sales dropped almost 50%
‘Important to have an anchor’