Summer sun in London seems to have lifted the spirits of traders today, as the FTSE 100 pushed towards the 4500 barrier again and only a small handful of stocks saw their share values fall by close of business.
The FTSE 100 index closed up 37.2 points or 0.84% to 4,491, while the FTSE 250 index closed 31.6 points or 0.5% to 6128.4 and the FTSE All-Share index added 17.3 points or 0.7% to 2231.
Cynical investors in London bought into Barclays Bank shares today, after Barclays said it would cut around 800 middle management jobs but take on 1,000 bank cashiers. This is bound to make cost-savings somewhere and boost banking’s profits even further, in the eyes of investors.
And having seen is share value fall at the end of last week, GUS then closed up 12.5p or 1.5% to 149.5p today after Deutsche Bank recommended investors buy its shares.
A rise in the prices of gold, copper, platinum and palladium has helped to lift shares in the major mining firms, the biggest of which are listed on the London Stock Exchange, after US economy figures on Friday suggested there would be higher demand for metals.
The gold price gained as much as 0.8% earlier in the day while copper jumped as a massive 2.6% on the London Metal Exchange.
BHP Billiton added 14p or 3.7% to 460p while Anglo American gained 27p or 2.38% to £11.63.
And Xstrata Plc, the world's fourth-largest coal exporter, rose 13p or 1.87% to 707p.
Yates, the high street pub chain, also hit a 21-month high earlier in the day after revealing the firm now expects a £93m takeover by private equity firm GI partners. This lifted its share value 6p or 4.615p to 136p.
At the other end of the scale, however, Easyjet hit some in-flight turbulence this afternoon when its share price dropped almost a quarter. Trading pulled back by end of business, but the share value still closed down 18.5% or 37.25p at 162.5p.IFAonline
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