FTSE 100 crosses 4700 after Bush wins US election

After hours of counting, legal wrangling and with three states still to declare the vote, the US election has been conceded by Senator John Kerry to George W. Bush. As a result of that result, the FTSE 100 index has this afternoon closed up over the 4700 points for the first time since July 2002. This is despite BAE Systems’ loss of 7.5p to 238p by the close of business, after news emerged of an investigation by the Serious Fraud Office into its arms business dealings with Saudi Arabia. Prudential has also had a bit of rough day after Jonathan Bloomer, chief executive said he would...