Vodafone and HSBC are leading advances on the UK's benchmark index this morning, on the back of cons...
Vodafone and HSBC are leading advances on the UK's benchmark index this morning, on the back of consecutive gains on the S&P500 index yesterday for the first time since March.
The FTSE 100 climbed 42.4 points or 0.8% to 5167.9 after Jefferson Smurfit Group said it's in talks which might lead to a takeover of the world's largest manufacturer of containerboard for packaging. Jefferson jumped 26% to 209p.
Hornby also climbed 10% to 407.5p as the model railway and Scalextrix maker exceeded pretax profits for the year ended March 31.
However, Body Shop International has not been so profitable this year and profits have dropped 43% because costs rose and same-store sales fell. Its share price fell 7.7% to 90p but still failed to stop the FTSE from making positive gains.
Strong moves in the UK were sparked by US news suggesting the economy may finally be heading for the rebound that everyone has been predicting for the past six months.
The S&P 500 index added 4.45 points or 0.4% to 1081.37 as around one-third of stock movements were the result of drug and hospital companies.
The Dow Jones also rose 74.31 points or 0.8% to 10,020.40, led by Coca-Cola and Proctor and Gamble, while the Nasdaq fell 18.11 points or 1.1% to 1670.09.
There were good gains in the Asian markets as well today, mainly for the Hong Kong Hang Seng index which rose to a four-month high.
Sun Kung Kai Properties, one of the largest property developers in the region, said home sales more than doubled in April and is a sign that demand is recovering.
The Korean market also did well, mainly because large Western banks are not thought to be buying troubled state banks for around $1bn.
Japanese exporters did not do as well and the Nikkei 225 took a downturn to 11,551 after the Yen climbed to an eight-week high and devalued the export potential that some of Japan's biggest firms have.
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