The FTSE 100 Index gained for the first day in four, adding 24.1 points, to 5233.6. Overall the inde...
The FTSE 100 Index gained for the first day in four, adding 24.1 points, to 5233.6. Overall the index fell 0.7% this week. For each stock that dropped in the FTSE All-Share, two made a gain, which added 12.06 points and is now 2542.43.
BAE Systems, Europe's largest defence company that had higher sales in the US than in Britain last year, advanced 12.5p to 365p. WPP, the world's number two advertising company gained 14.5p to 804.5p. Just less than half its revenue comes from the US. Anglo American, the mining company, rose 1.4% to 1,195p.
GlaxoSmithKline rose 35p to 1,630p, climbing from its low in March 2000. AstroZeneca added 49p to 3,451p, rebounding from yesterday's 2.5% loss. The two stocks accounted for more than half of the FTSE 100's rise.
UK homebuilders rose on optimism that low interest rates will continue to boost demand for houses and lift profits. Bellway added 2.8% to 502p. Builders such as George Wimpey and Crest Nicholson have reported strong demand as homebuyers take advantage of the lowest borrowing cost since 1964. Policymakers at the Bank of England yesterday kept the benchmark rate at 4% to avoid stifling an expected economic recovery this year.
The S&P 500 index and Nasdaq both slid after a government report showed that while the economy added jobs in March, the unemployment rate climbed, underlying concern a profit rebound may be weaker than anticipated.
The Dow climbed 44.84 to 10,279.53, with 3M accounting for most of the advance. The S&P 500 slid 0.93 to 1126.82 and the Nasdaq lost 15.70 to 1773.25. For the week, the S&P 500 has lost 1.7%, the Dow 1.1% and the Nasdaq 3.4%, as violence in the Middle East escalated and analysts said earning may be lower than expected.
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