The FSA's weekend decision to revise solvency rules for UK insurance companies coupled with further ...
The FSA's weekend decision to revise solvency rules for UK insurance companies coupled with further evidence of a US economic recovery helped the FTSE to a 122 points rise to 3,689.40 by the close.
Friends Provident led the gainers, climbing10p to 98.25p, and Aviva gained 37.5p to 430.25p.
Sage was a surprise gainer, but Merrill Lynch has put a 'buy' rating on the stock after management said it would be able to increase prices of licences for its accounting products.
Royal & Sun Alliance climbed 7.5p to 104p and Legal & General gained 5.25p to 80.5p.
Scottish & Newcastle led the few losing stocks today, dropping 28.5p to 382.5p after putting out a profits warning because of cost liabilities.
BOC dropped 7.5p to 780p ahead of results due tomorrow.
The FTSE 250 closed up 55.4 points at 4,071.8.
A positive note on Colt Telecom helped that stock become the day's best performing mid-cap stock with a 3p or 8.5% gain to 38.5p.
Arriva announced a temporary extension of two franchised rail routes in northern England, but its shares dropped 10p to 265p.
And Scottish Media Group's deal to sell titles to US publisher Gannett, already explored by the competition authorities, did nothing for its share price today: it dropped 3.5p to 69.5p.
US stocks are performing well after the government there outlined massive deficit spending plans coupled with new research showing a rebound in confidence in the manufacturing sector.
Orders have been growing and production is increasing among companies supplying core parts of the US economy such as automobile manufacturing.
The Dow Jones Industrial Average index is up more than 70 points, or almost 1%, to 8,127 at present.
Despite improved risk appetite
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