Following Friday's near 300 points drop, the omens were not good, but the FTSE 100 index has regaine...
Following Friday's near 300 points drop, the omens were not good, but the FTSE 100 index has regained some 34 points to 4,664 so far today after the successful float of bookie William Hill and rising oil stocks on the back of rising crude oil prices.
Banks and pharmaceuticals are also making gains.
BP is up 6.5p at 530p, while Shell is up 5p at 476p on the oil price news, plus news that an oil workers strike has been averted in Norway after a wage accord was reached.
Vodafone is up 1.25p to 92.25p, reversing last week's share price drop to a new near 5-year low below 90p, although there is still tension between the company and its major shareholders over the issue of directors' remuneration.
Sage, the accounting software developer, has bounded back 2.25p to 163.75p after analysts at UBS Warburg upgraded their recommendation to a 'buy' from a 'hold'.
Another upgrade to CGNU has managed to boos that company's share price by 9p to 532p, despite ongoing discussion about insurance company solvency levels.
Royal & Sun Alliance has not done as well, shedding 9.5p to 248.5p after weekend reports that Friends Provident is to issue a massive £800m sale of bonds to help put its finances in order and increase the ratio of assets in excess of total liabilities.
Two software companies, Anite and Autonomy lead the FTSE 250 mid-caps index today, with gains of 3.5p to 64p and 13.75p to 289.75p respectively.
The index is up 27 points at 5,717.
Security firm Securicor is another big winner, following weekend reports that the US Department of Transport may require more passenger screening even a smaller airports just serviced by charter airlines.
Friday's decision not to refer the outsorcing of maintenance of the Underground to regulators has helped push up shares in construction and engineering company Balfour Beatty today by 8.75p to 219p.
And retailer Matalan, whose star seemed to be waning in recent months, have reversed today, putting on 13.25p to 338.25p, despite last week's warning from supermarket giant Tesco that consumer spending growth is set to peak.
That may help explain why supermarket operator Somerfield is near the bottom of the mid-caps index today, off by 3.25p to 122.75p.
Earlier today, Tokyo's Nikkei 225 index shed 256.52 points to 10,664.11, following Friday's close down by the Dow Jones Industrial Average index, which shed 28.59 to 9,474.21.
The Nasdaq Composite actually manage to close up 7.88 points at 1,504.74.
According to Cicero report
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