The FTSE opened more than 30 points up Thursday as investors were buoyed by Spanish plans to tackle its budget crisis, a host of strong trading updates and a rally on Wall St.
Shortly after opening, the index was up more than 50 points, or 0.95%, to 5,434.71, as investors began their first full day under a David Cameron-led coalition Government. The new Government moved quickly to appease markets yesterday with plans to cut the UK's budget deficit £6bn this financial year, a move backed by Bank of England governor Mervyn King. This morning, UK stocks were also boosted after earnings from J Sainsbury and BT Group beat analysts' estimates. Sainsbury advanced 2.9% after posting an 18% rise in pretax profit while BT, the UK's largest phone company, advanced ...
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