The FTSE 100 index is up 30 points to 3,514 following the overnight decision to leave US interest ra...
The FTSE 100 index is up 30 points to 3,514 following the overnight decision to leave US interest rates alone along with positive comments on the economy by the Federal Reserve.
The turnaround marks a big leap of confidence considering yesterday's intra-day low went below 3,400 points forcing insurer Britannic to issue an emergency stock exchange statement saying its solvency margins were not under threat.
Abbey National has turned around from being one of the bigger losers of recent weeks to leading the gainers today with a 16.5p rise to 401.5p.
This follows news that Northern Rock's positive results earlier this week have caused Goldman Sachs to raise its recommendation on the bank mainly because of its mortgage business.
3i Group, Europe's biggest technology investor, has jumped 15.5p to 479p on news it is to sell coach tour operator Wallace Arnold for £60m.
Emap, the publisher, has fallen 14.5p to 649.5p as the lack of positive newsflow about advertising revenues continues to bite.
Allied Domecq has dropped 2p to 325.5p after CSFB analysts dropped its target share price to 385p from 430p.
The FTSE 250 index is up 16 points to 4,002.
Thistle Hotels, which slumped yesterday on fears a downturn in global travel will hurt its business, regained 5p to 94p.
Acambis, which makes small-pox vaccines, keeps rising as orders from governments keep flowing in, and today it is up another 10p to 223.5p.
William Hill is under pressure, dropping 8p to 201p to lead the losers, as early January rumours of a sale of its Tote business fade.
Yesterday, stocks made gains in New York after the Fed's positive statements, and the Dow Jones Industrial Average climbed 21.87 points by the close to 8,110.71.
The S&P 500 gained 5.82 points to 864.36, while Nasdaq's tech-heavy Composite index gained 15.88 points to 1,358.06.
Tokyo's Nikkei 225 index dropped 14.27 points to 8,316.81 mainly because of domestic consumption issues and fears a report due out tomorrow will show Japanes unemployment is increasing.
Hong Kong's Hang Seng closed up 18.16 at 9,258.95.
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