FTSE soars as Obama unveils US stimulus

clock

The FTSE soared in early trading following a slump on Friday sparked by fears of more than half a million job cuts in the US.

Shortly before 10am, the index had advanced more than 4.5% to climb above 4,250 thanks in large part to impressive gains for Prudential. Analysts last week said the insurer's capital and liquidity remain adequate helping the stock climb more than 12% on Monday. Construction supplier Wolseley and natural gas firm BG Group also made significant gains while Standard Chartered was the only firm hit with a noteworthy loss. Shares in Lloyds TSB are also up over 10% this morning as investors await the start of a legal challenge against the group's takeover of HBOS. A self-appointed group o...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Advisers expecting more of asset managers since Consumer Duty

Advisers expecting more of asset managers since Consumer Duty

‘We actually need to understand one another better’

Hope Coumbe
clock 28 March 2024 • 1 min read
Fears tech limitations could stall MPS on its upward trajectory

Fears tech limitations could stall MPS on its upward trajectory

‘There have been a few changes and challenges around growth in general’

Hope Coumbe
clock 27 March 2024 • 1 min read
Partner Insight: Beyond 60/40

Partner Insight: Beyond 60/40

Invesco
clock 27 March 2024 • 5 min read