The FTSE 100 index pushed into territory not seen for a year with a gain of 24 points to 4,262 despi...
The FTSE 100 index pushed into territory not seen for a year with a gain of 24 points to 4,262 despite last night's power blackout hitting vast swathes of the US and Canada.
Some three-quarters of stocks in the index have made gains so far today as investors return to equities on the back of hopes of continued stronger US recovery.
Johnson Matthey, the chemicals specialist, leads the gainers with a 31p hike to 955p, in the face of a strike at its main South African catalyst producing factory.
Prudential has surged 11.25p to 429.75p.
Vodafone is up 2p to 123.75p after reports it is to increase its stake in a Taiwanese mobile phone network operator.
National Grid Transco has been the big loser from last night's blackout as its subsidiary Niagara-Mohawk is the main operator of the grid that went down. Shares in NGT dropped nearly 3% in early trading before a series of large trades helped reduce the loss to a 7.25p drop to 389.75p.
Intercontinental is down 7.75p to 517.25p on concerns its hotel earnings will be hit by terrorist threats to hoteliers operating in countries such as Indonesia and Sri Lanka.
The FTSE 250 has hit another 12-month high, up 27 points to 5,478.
Autonomy, a developer of software for networks, jumped nearly 7%, or 12p to 195p.
Aggreko, a supplier of power generators, jumped 6.75p to 154.75p on news of the US and Canadian blackout.
Small-cap stock Turbo Genset has been the biggest winner from the blackout, as its shares surged another 5.5p to 48p, taking its market value gains in the past two days to more than 50%. The stock is up nearly 500% since its March low.
New York markets are expected to function as per normal when they open later today as backup systems put in place following the terrorist attacks of 11 September 2001 enable members of the exchanges to continue trading.
The Dow Jones Industrial Average index closed up 38.80 points yesterday at 9,310.56.
Taking the time to look
More than half of people over the age of 55 see financial security as a top priority in retirement, yet a third allocate more time to buying a new car, research from Legal & General (L&G) has found.
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