The FTSE 100 wiped out yesterday's losses and even put in a gain today as investors put behind ...
The FTSE 100 wiped out yesterday's losses and even put in a gain today as investors put behind them the panic selling prompted by yesterday's airline tragedy in the US.
Market jitters were allayed after overnight evidence suggested the crash was not related to terrorism. News that the Taleban left the Afghan capital, Kabul, today also lifted spirits.
London's leading index surged 130.9 points to 5277.1 on Tuesday after 87 stocks recorded gains and only 12 stocks declined.
There was a raft of key corporate news out today. Index heavyweight Vodafone posted disappointing revenues but made up for it with its estimate of earnings before interest, tax, depreciation and amortization. The shares gained 5.75p to 180p.
Amongst the mid caps, Marconi didn't spring any nasty surprises with its first half results and the stock improved 1.9p to 31.1p. Energis managed a rise of 3p to 85p despite the release of a mediocre set of interim results.
Technology, media and telecommunications stocks were the clear winners. ARM led the FTSE 100 gainers with an advance of 34.75p to 400p. WPP followed with a gain of 53p to 721p and Logica took bronze, up 64.5p to 884.5p.
Over in the US at midday, all the key indices were performing well with the Dow Jones up 144 to 9698, the Standard & Poor's 500 up 15 to 1133 while the Nasdaq fared best with a rise of 41 to 1881.
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Interest rate outlook unchaged