Trading is looking a little more rosy in London this morning, as BAE, Sage and WPP have all seen dec...
Trading is looking a little more rosy in London this morning, as BAE, Sage and WPP have all seen decent gains.
It so far looks as though the FTSE 100 will pretty much end the week where it started having already gained 27.6 points or 0.7% to 4069.3 within the first hour of trading.
One of the key movers today has been BAE Systems, which has been given government backing - in the form of Peter Hain MP- to win a defence contract for trainer-combat aircraft.
BAE Systems has climbed 4p or 2.9% to 142p after Hain said he would back attempts to win the £1bn contract.
Accounting software group Sage is also have a better day and has already gained 3p or 1.8% to 166p while WPP Group, the advertising firm, is up 7.25p or 1.6% to 471.25p.
However, the software firm that created Lara Croft is struggling this morning after Eidos announced it would have to delay its next version of the Tomb Raider game. Eidos is down 10.75p or 7.8% to 128p.
In Asia, Japanese stocks rallied, mainly on the back of the yen's moves against the dollar, which helps to boost companies with high levels of exports.
The Nikkei 225 index closed up 2% to 9104.06 with the Topix up 1.7% to 903 by close of business, but it was largely thanks to gains for Canon and Toyota Motor Corp.
A fall in the value of the yen against the dollar has again helped the two exporters, as Canon gained 1.8% to Yen5,530 and Toyota closed up 2% to Yen3,130.
Most other indices in Asia made reasonable gains, except for Taiwan and China.
In the US yesterday, there was a rally again after Wednesday's bad reaction to the Federal Reserve rate cut.
Microsoft had a major victory and managed to get a part of its anti-competitive ban overturned by the US Court of Appeal, which now means it does not have to provide access to Java software on its Windows systems. This now means that Sun MicroSystems will now not get the anti-competitive payment previously declared by the US courts.
Pfizer also made a very public statement about the company's drug development for malaria, SARS and small pox. This is an unusual move but one which analysts obviously liked, because indications are that they will be able to make major leaps in the fight against illnesses such as malaria.
At close of play the Dow Jones had made ground again and stood 67.51 points up or 0.75% to 9,079 while the Nasdaq closed up almost 2% to 1,634 and the S&P 500 gained almost 1.1% to 985.82.
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