Christmas boost remains on markets
Christmas boost remains on markets
Tuesday 30th December 2008
The FTSE 100 closed up again today, as the slow moving markets maintained some festive glee before the turn their backs on a torrid 2008.The index closed up 1.70 per cent to 4,392.68.
In New York, the morning trading was also positive – up 1.77 per cent to 8,634.38 at 12:05 EST (17:05 GMT).
While in Europe, the Cac 40 was up 2.76 per cent and the Dax was up 2.24 per cent.
Ryan Kneale, market analyst at BetsForTraders.com, said: "Thin trade is to be expected at this time of year and with today being the last full trading day of 2008 in Europe, the story is no different.
“Rising crude prices are pushing up energy stocks and in turn this is pushing up the indices.
“Most traders will be glad to see the back of 2008 and although the beginning of 2009 is expected to be tough, we can look forward to things improving gradually throughout the year."
Leading the gains at the close of play was Legal & General – rising 7.14 per cent.
Schroders Non-Voting rose 7.02 per cent, cruise operator Carnival gained 5.72 per cent, Eurasian was up 4.95 per cent and 3i Group climbed 4.66 per cent.
Energy generator Drax was down 4.95 per cent, Schroders dropped 3.72 per cent, TUI Travel fell 2.96 per cent and HBOS lost 2.27 per cent.
On the currency markets, sterling was hitting lows against the euro and the dollar.
After spending the first half of 2008 at $2, £1 now buys $1.442.
Against the euro, £1 now stands at down 1.16 per cent to €1.021, making €1 worth 97.9p.
Related News
FTSE 100 continues post-Christmas boost - 30/12/08
The FTSE 100 was up again this morning, for a second day of gains after the Christmas break
The FTSE 100 was up again this morning, for a second day of gains after the Christmas break
FTSE 100 holds on to festive cheer - 29/12/08
The FTSE 100 was up nearly two per cent today, as the first day back after Christmas for traders brought a touch of festive cheer
The FTSE 100 was up nearly two per cent today, as the first day back after Christmas for traders brought a touch of festive cheer
Adams looks to raise funds to avoid administration - 29/12/08
Children's clothes chain Adams is looking to raise funds by the end of the week to avoid facing administration
Children's clothes chain Adams is looking to raise funds by the end of the week to avoid facing administration
Sterling falls further against euro - 29/12/08
The pound fell further against the euro today to new record lows
The pound fell further against the euro today to new record lows
News Article Search
Quick Apply
News Archive