FTSE 100 continues climb

Friday 22nd August 2008

The FTSE 100 rose 0.75 per cent at 9:37 BST to 5,410.60 as traders looked to the long weekend.

The index rose as some confidence returned to the financial stocks after recent downheartedness – with HBOS rising 4.14 per cent, Prudential up 3.95 per cent and Lloyds TSB climbing 3.66 per cent.

Carphone Warehouse rose 3.54 per cent and Schroders was up 3.35 per cent.

Tensions over oil prices saw energy stocks dropping.

Petrofac was down 1.95 per cent, BG Group fell 1.02 per cent and BP lost 0.97 per cent.

International Power dropped 0.84 per cent and Drax slipped 0.75 per cent.

Last night in New York the Dow Jones followed the pattern of London with initial losses being made up over the day – leaving the index up 0.11 per cent on the day.

In Europe the morning the Cac 40 and Dax were up 0.51 per cent and 0.55 per cent respectively.

On the currency markets sterling fell against the dollar and the euro.

£1 was worth $1.85975 down 0.95 per cent and €1.25330, making €1 worth £0.7979.

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