UK stocks ended the day on a positive note after US Federal Reserve chairman Alan Greenspan said inflation is not a serious concern.
The benchmark FTSE 100 closed up 32.50 points today at 4,491.10 after Greenspan's comment yesterday eased concern that rising interest rates would put a dampener on US profit growth.
BT Group led today’s gains after the phone company’s shares surged 5.5p to 194p.
Morrison advanced 7p to 237p after UBS AG reported the supermarket chain cut prices at stores owned by Safeway to attract customers.
In the meantime, 3i Group lost 8.5p to 607p after the investor’s stock traded without the right to the second-half dividend of 8.9 pence a share.
Invensys, an engineering company, gained 1 penny to 16.5p.
Severn Trent shed 33.5p to 797.5p after investors buying the water company’s stock today were not eligible for the second-half payout of 29.27 pence a share.
In the US, the Dow Jones Industrial Average index has so far lost about 4 points to 10,376.74, while the S&P 500 index has so far gained just over 1 point to 1,015.54.
Nasdaq's Composite index is currently down 0.56 points to 1,995.04.IFAonline
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