After some shaky moments earlier on in the day the city finally endorsed yesterday's rally a...
After some shaky moments earlier on in the day the city finally endorsed yesterday's rally and the FTSE 100 finished both the day and the week higher. Support for telecom groups provided much of the index's gains, particularly heavyweight stock Vodafone.
The FTSE 100 finished the day up 55.4 points to 5537 having started the week at 5479.2.
Sage finished the day as FTSE 100 top gainer, up 14.25p to 232p and the software group also took the title of week's best FTSE 100 performer boasting a gain of around 15%. Vodafone was Friday's second best riser with a gain of 6.25p to 14.25p and BT also fared well with a rise of 12p to 482p.
New economy followers will be pleased to see that Sage, Arm and Misys finished the week as top performers among the FTSE 100.
Among the ranks of the FTSE 250 internet security group Baltimore Technology attracted investor interest after it announced it had received a bid from unlisted rival Chantilley. Despite some early excitement, the stock's gains petered out after the city concluded that Chantilley would bring little else to Baltimore other than a change of management. Baltimore finished up 1p to 31p.
Good day for games developer Eidos who rose 15.5p to 260p advancing on yesterday's 11% percent gain. The group continues to benefit from yesterday's announcement that it received acceptances on 96% of the 34.5m new shares available to shareholders as part of its 1 for 3 rights offer.
Wall Street was tentative at midday. US investors were reluctant to continue yesterday's buying spree, which saw the Nasdaq gain over 5%. The Nasdaq posted a more modest gain of 13 points to 2088, the Dow Jones added 27 to 10506 while the Standard & Poor's 500 lifted 4 to 1212.
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