In London, markets rose in early trading with news that BSkyB must sell some of its shares in ITV and the FTSE 100 gained 46.7 points (0.74%) to 6,331.2.
Johnson Matthey, a manufacturer of advanced materials, made the biggest early gains, up 66 points (3.79%) to £18.09. Carphone Warehouse Group followed despite news that the Government is to crack down on people using mobile phones while driving, adding 10 points (3.03%) to 340.5p.
Tullow Oil shares dropped after the firm confirmed that a Ugandan well is showing signs of depleting, down 25 points (3.85%) to 625p. Alliance & Leicester continued to suffer from the credit crunch, down 7 points (1.08%) to 642.5p.
On Wall Street, markets fell slightly as the Fed’s credit auction was oversubscribed, raising fears about how much credit is needed by banks, and the Dow Jones dropped 25.2 points (0.19%) to 13,207.27.
Intel made the biggest gains, up 0.28 (1.08%) to 26.19, while Coca Cola added 0.63 (1.01%) to 62.85.
Walt Disney shares dropped 0.76 (2.3%) to 32.26, while McDonalds lost 0.98 (1.64%) to 58.85.
In Tokyo, the Nikkei 225 climbed higher as Japan’s three biggest banks refused to contribute cash to a sub-prime asset bailout fund, up 1.09 points (0.01%) to 15,031.6.
Mitsubishi UFJ rose 23 yen (2.2%) to 1,054, while Sumitomo Mitsui added 30,000 yen (3.6%) to 859,000.
If you would like to comment on this story, contact:
Tel: 020 7034 2682
e-mail: [email protected]
Cautious, Balanced & Dynamic Growth
Cowardly, boring or sensible
Latest news and analysis
‘Most significant’ upgrade since launch
Changes happening over coming months