The FTSE 100 followed on from yesterday's decent gains in good health this morning as it posted...
The FTSE 100 followed on from yesterday's decent gains in good health this morning as it posted a rise of 58.1 points to 5211.2. Gainers came from a mix of sectors although media stocks fared especially well. Fallers were predominantly from the old economy although losses amongst the FTSE 100 were capped at 2%.
Buyers circled media stocks after bellwether News Corp. said advertising sales were better than anticipated in the current quarter.
Leading the FTSE 100 was fund manager Amvescap with a rise of 62p to 922p and heading a modest bunch of losers was Reckitt Benckiser down 25p to 980p.
A solid day's trading over on Wall Street on Wednesday left the Standard & Poor's 500 Index just 1.1% lower than its level before last month's terrorist attacks. The Nasdaq has clawed back its losses to just 4.1% since the attacks and the Dow has lost 3.8%. All the key indices enjoyed decent gains - The Nasdaq fared best as it gained 56.06 to 1626.25, the Standard & Poor's 500 added 24.24 to 1080.99 and the Dow Jones rose 188.42 to 9240.86.
Amongst the old economy, drinks manufacturer PepsiCo said earnings will meet or even excel expectations which prompted a 96 cents rise to $49.89. A good day in the tech sector saw Intel gain $1.61 to $23.06, Microsoft add 95 cents to $55.51 and Cisco Systems climb 56 cents to $15.15.
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