Confidence on Wall Street initiated another positive start in the UK on Friday. At morning trad...
Confidence on Wall Street initiated another positive start in the UK on Friday. At morning trade the FTSE 100 was up 16 points to 5180.
Investors will keenly watch the US employment report for January, due after lunch today – if it hits the anticipated 5.9 target or higher, it should ensure a solid finish to the week.
ICI fell a further 25p to 306p following its plunge of more than 10% yesterday. The sell off was prompted after the group announced plans to launch an £800m rights issue.
US markets performed well for a second day on Thursday as investors continued to buy on the back of the Federal Reserve's decision to leave interest rates unchanged this week. The upbeat mood has been somewhat hampered though by investor anxiety regarding accounting practices following the collapse of Enron.
All the key indices posted gains, he Dow Jones advanced 157.14 to 9,920, the Standard & Poor's 500 gained 16.96 to 1,130.20 while the Nasdaq added 20.59 to 1,934.03.
A decent earnings report from Procter & Gamble was a highlight amongst the old economy. Amongst new economy stocks, Intel added 3.5% to $35.04 after an upgrade from Merrill Lynch to "strong buy". Oracle also fared well after it rose 4% to $17.26 and Microsoft advanced 1.4%to $63.71.
In Japan, Wall Street's optimism failed to inspire. Poor earnings, economic reform worries and the sacking of the country's foreign minister, Makiko Tanaka, depressed investors.
The benchmark Nikkei 225 average fell 206.37 to 9,791.43.
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