After early falls in the day, the FTSE 100 surged, closing at its highest point today at 3678.7, u...
After early falls in the day, the FTSE 100 surged, closing at its highest point today at
3678.7, up 88.6 points, driven by a strong session from telecoms stocks and the insurance sector.
Vodafone rose 5p to 112p at close today after confirming it was in talks to sell its fixed-line operations in Japan, which could fetch around £1.5 billion.
mmO2 was also up 2p to 48.5p after yesterday's announcement of strong subscriber and revenue growth figures and revelations that it is in talks with more than one unidentified party about a possible sale of its Netherlands unit.
BT closed up 6p at 177.25p.
Insurers are also beginning to post gains again with Prudential closing up 15p at 400.5p, Aviva up 18p at 431p, and Legal & General up 3p at 76.75p.
But Royal & Sun Alliance's shares dropped 0.75p to close at 96.75p after the announcement yesterday of more bonus cuts to its with profits products.
The FTSE 250 was up 24.5 points to close at 4,071.6.
Meanwhile on Wall Street, the Dow Jones Industrial Average hit session highs during Powell's speech on Iraq. At 17.15GMT it was up 63.14 points at 8076.43.
The S&P 500 Index is also up 5.64 points at 853.84, while the Nasdaq Composite Index is currently up 14.45 points at 1320.6.
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