The FTSE 100 index looked set for a 20 points fall by early afternoon, but shares rallied on news of improving US consumer confidence, which sent the key UK index up 3.90 points to 4,575.70 by the close.
Weightings played their part as more than 60 stocks in the index registered losses, but the bigger firms’ gains were able to overcome this resistance. Cable & Wireless led the gainers, adding 3.75p to 127.25p on rumours it will initiate a share buy back. Vodafone jumped 2.75p to 141.25p after its US joint venture Verizon Wireless posted solid quarterly earnings and profits. BAT gained 10p to 867p after competitor RJ Reynolds posted a 72% rise in first quarter profit. Marks & Spencer dropped 4.25p to 278p after its chairman ruled himself out of running a French competitor. Abb...
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