The FTSE 100 broke over the 4,100 mark by the end of business on Thursday after Prudential reported ...
The FTSE 100 broke over the 4,100 mark by the end of business on Thursday after Prudential reported higher than expected third quarter sales and Man Group, the hedge fund company, announced it has raised $670m for a new fund.
The FTSE 100 jumped 113.00 points or 2.8% to 4170.70 thanks to higher demand for products at Pru's US and Asian divisions.
Prudential rose 31p or 7.1% to 467p as sales, excluding mutual funds, rose 6%, and Man Group added 77p or 8.7% to 958p.
DFS Furniture also advanced 37.5p or 10.2% to 406p as net income in the 12 months ending July 31 rose 7% to £35.7m.
Holmes Place, however, plunged 69p or 40% to 102p after a deal to sell the health club to Royal Bank of Scotland Group's buyout division fell through on the back of lower than expected profits.
MyTravel Group also slumped another 46.75p or 61.9% to 28.75 bringing its loss this year to 88%, because the company cut its full-year forecast again and cancelled dividend payments.
Performance looks good in the US today as IBM, Eastman Kodak and United Technologies reported higher sales.
The Dow climbed 228.95 points or 2.8% to 8263.57 while the S&P 500 added 20.19 points or 2.4% to 879.59 and the Nasdaq Composite Index jumped 41.94 points or 3.4% to 1274.47.
Strong moves were helped by a government report which shows new home construction grew by 1.843m units in September, its highest level in 16 years. The market is also doing well to shake off news of higher unemployment claims.
IBM advanced $7.64 or 12% to $72.54 because sales will rise to over $22bn this quarter, according to its chief financial officer, John Joyce.
Eastman Kodak also rose $3.30 or 11% to $33.65 as its sales rose for the first time in two years, and rose more than analysts' expectations.
And a change in acquisition-related accounting boosted Philip Morris's net income to almost double and lifted the share value $1.55 to $40.15.
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