Regardless of ‘connectivity issues' preventing the London Stock Exchange (LSE) from trading most of the day, the FTSE soared, ending the day up 195.60 points, having jumped 3.73% to 5436.30.
The LSE suffered its most serious outage in seven years, according to the FT, as a computer fault lead to all trading being suspended. The FTSE 100 index gained 3.81% with rapid ascent shortly after opening, but there were no further trades until 1600. The LSE said ‘connectivity issues’ had prevented trading. Following the high profile US rescue of Fannie Mae and Freddie Mac, risk appetite returned and financial stocks ended the day on a high, as it seems confidence in the sector has at least been temporarily restored. Schroders took the top spot, rocketing 114p (13.51%) to 958p. Lloyds...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
