FTSE rallies in fragile market

Professional Adviser
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Investors found a safe haven in pharmaceuticals and retail stocks today to place the market up as ma...

Investors found a safe haven in pharmaceuticals and retail stocks today to place the market up as markets reacted with caution to yesterday's terrorist attacks in the US and its implications on the global stockmarkets. US, Thailand, and Singaporean markets were closed today, but that did not stop the FTSE 100 from rallying to close up 134.8 points or 2.8% to 4880.8, paring yesterday's 5.7% drop to the lowest level since October 1997. Tesco gained 16.75p or 7.3% to 246.75p and GlaxoSmithKline climbed 174p or 11% to £18, however, the oil markets' instant reaction yesterday to the New Yo...

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