A 'buy' recommendation on mobile phone maker Nokia by Merrill Lynch has pushed telecoms stocks this ...
A 'buy' recommendation on mobile phone maker Nokia by Merrill Lynch has pushed telecoms stocks this morning, helping the FTSE 100 index climb 14 points to 4,183.
MmO2 leads the gainers with a 1.75p rise to 52.75p, BT is up 1.5p to 211.5p, although Vodafone's gain was limited to 0.5p to 122.5p following recent weeks' gains.
Insurers are also performing well.
Legal & General is up 3.25p to 118.25p, while Aviva is up 11.5p to 560p on news it is to sell its stake in the world's biggest aviation insurance underwriter.
Sage is up 3.25p to 160p as analysts forecast a rise in sales ahead of the company's results presentation tomorrow morning.
LloydsTSB has gained 11p to 553.5p on reports it is going to cut sales staff because of the stock market slump.
Rolls-Royce announced a 10-year after-care deal with Lufthansa covering deliveries of engines for new Airbus planes, but the market did not see the positive in the announcement, and shares are down 2p to 128p.
Schroders is down 11p to 577p on speculation it is to buy Aberdeen Asset Management's property portfolio.
UK mid-cap stocks are performing well today, and the FTSE 250 index is currently up 12 points at 4,571.
Aberdeen Asset Management is up 6p or about 10% to 66.5p after announcing it is cutting its dividend.
Stagecoach is facing losses of $500m associated with its US business, but may close some of those businesses, hence the share price is up 1.75p to 19.75p today.
Carlton Comunications, which gained last week after reporting shrinking losses, has started off this week by losing 5.75p to 164.75p.
Builder Persimmon is feeling the heat of more uncertainty in the property market, today shedding 7.5p to 406.5p.
Earlier this morning Tokyo's Nikkei 225 index shed 41.09 points to close at 9,174.47.
Hong Kong's Hang Seng index gained 135.29 points to 10,205.16.
On Friday the Dow Jones Industrial Average index closed down 35.59 points at 8,896.09, still shy of the 9,000 level following growing confidence that the US economy is turning around.
The S&P shed 2.56 points to end the week at 936.31.
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Partner Insight: A renewed focus on 'knowledge-intensive' companies should help investors realise that these entrepreneurial companies are found in sectors other than biotech or technology.
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