Shares dropped then gained in the first hour or so of trading today to send the FTSE 100 index up about 9 points to 4,347.
Banks are doing well as a sector on hopes companies will be picked to lend money to the French government to help fund social services. HBOS, the UK’s largest mortgage lender, is up 7.5p to 680p. HSBC is up 5.5p to 792.5p, while LloydsTSB is up 2.75p to 397.75p. BP is up 2p to 497p after more news on how its Russian investments will be spent. Sainsbury is down 39.93p to 259.5p after admission and first trading in new ‘B’ class shares, issued after shareholders voted for a measure of return of capital at the recent stormy annual general meeting. Abbey is down 2.25p to 482.75p ...
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