Crude oil futures hit $42.45 a barrel in New York yesterday before dropping back, but the FTSE 100 has managed to stay afloat thanks to narrowing losses at Cable & Wireless.
Having suffered losses yesterday, the FTSE 100 appears to be on a positive turnaround this morning and has climbed 20 points or 0.5% to 4443 within the first hour of trading, while the FTSE All-Share index is also up 8.8 points or 0.4% to 2205.8. Cable & Wireless has made the best gains so far, rising 4.75p or 3.9% to 126.25p after reporting the company’s fiscal-year net loss has narrowed to £237m from £6.53bn last year. BAE, the defense contractor, is also up 3.5p or 1.7% to 210.75p. Key dividend announcements are out this morning, but are not as positive as investors might have...
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