The FTSE has managed to pull back a fraction this morning from yesterday's tumble, as ratings upgrades for MMO2, Lloyds TSB and Royal & SunAlliance lift their share performance.
Having dropped below the 4400 mark at the end of play yesterday, the FTSE 100 index is so far up 27.1 points or 0.6% to 4425, while the FTSE All-Share index has risen 13.19 points or 0.6% to 2212. MMO2, the mobile phone operator, has received a ratings upgrade from Morgan Stanley, even though the firm last month turned down a takeover bid. MMO2 is up 3p or 3% to 102.5p. Banking group Lloyds TSB has also advanced 4.5p or 1.1% to 415.25p after UBS shifted its holding to “overweight”. This has helped to lift the share prices of other banks, including HBOS which is up 0.7% to 727p and Roy...
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