Telecom stocks spearheaded a modest rise for the FTSE 100 on Tuesday morning - the index pushed...
Telecom stocks spearheaded a modest rise for the FTSE 100 on Tuesday morning – the index pushed 33 points higher to 5234.
Mmo2 led the rise with a gain of 4p to 57p bringing its weekly gain to almost 9% and offsetting some of last week's 22% slump. The mobile phone group said it plans to save about $528m over the next five years by cutting the number of its suppliers.
Index heavyweight Vodafone added 4p to 120p to recover some of last week's 16% plunge while BT advanced 10p to 267p.
There were only a handful of losers at morning trade, predominantly among old economy stocks, and declines were capped at 1%.
Over in the US on Monday, markets closed moderately lower. The Standard & Poor's 500 hit a seven week low as it fell 8.46 to 1102.55. The Dow Jones slipped 97.15 to 10,093.67 while the Nasdaq shed 2.41 to 1753.78.
Engagement and influence
Win free places at the awards
Our weekly heads-up for advisers
Beware ‘investor behaviour penalty’
Develop ‘soft skills’