Investors have rethought price to earnings multiples on European-listed stocks today, helping the FTSE put in a 34 points gain to 4,605 following yesterday's tumble.
Shares did fall overnight in the US, however UK company-specific news indicating potential profit gains has added to the bullish mood this morning. Man Group is up 51p to 1,240p after managers bought shares. British Airways is up 5p to 212.5p after news that airlines based in Europe have seen a big summer pickup in flights to Asia, which were down last year because of an outbreak of Severe Acute Respiratory Syndrome, SARS. Northern Rock is up 15p to 725p after announcing profits will rise at least 10% in its current financial year. Vodafone is up 2.5p to 134.5p, accounting for ...
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