The FTSE 100 climbed higher this morning due to optimism among financial services groups, and is up 32.3 points, or 0.49%, to 6682.5.
Vedanta Resources saw the biggest gains in early trading, up 39 points, or 2.48%, to £16.10, closely followed by Man Group, up 14p, or 2.29%, to 626p.
Standard Life also received a boost due to confidence in the City, up 7.75, or 2.28%, to 347.75. Rolls-Royce shares continued to climb, up 12 points, or 2.2%, to 557p, and Lloyds TSB added 11.5p, or 2%, to 586p.
Early gains were offset by some minor losses including Cadbury Schweppes, which saw shares dragged down on news that the company planned to make considerable layoffs, down 11.5 points, or 1.64%, to 688.5p.
Morrison lost out on predictions of lower consumer spending, down 1.49% to 296.75p, and DSG shares fell by 1.23% to 168.4p as the firm announced that it would not enter the Russian market.
In the US, the Dow Jones ended the day close to where it began due to uncertainty about inflation, interest rates and the housing market, down 22.44 points, or 0.16%, to 13635.42.
Verzion shares climbed considerably after the announcement of a video-on-demand service, up 1.22% to 43.07. This was followed by IBM, up 1.17, or 1.11%, to 106.5, and Du Pont, up 0.46, or 0.89%, to 52.21.
Altria saw the biggest losses on Wall Street, down 0.64, or 0.91%, to 69.52. Alcoa followed with a loss of 0.72% to 41.58, and Coca-Cola shares lost 0.71% to end the day on 51.39.
In Japan, the Nikkei 225 Stock Average rose 48.07, or 0.3%, to 18,211.68, pushed up by export companies.
Factory robot maker, Fanuc, saw shares gain 190 Yen, or 1.5%, to 12,730, the highest since April 2000. This was followed by Nintendo, which saw shares jump by 600 Yen, or 1.4%, to 44,500.
Japan’s second largest trading company, Mitsui & Co, gained 25 yen, or 1%, to 2,510, on optimism that the low value of the Yen would boost export incomes.
If you would like to comment on this story, contact:
Tel: 020 7034 2682
e-mail: [email protected]
Bought ATS for £40m this morning
'Global ETF research centre'
Four new members
RDR the catalyst for DFM growth