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