FTSE 100 ends Monday up 0.12%, following strong gains last week
FTSE 100 ends Monday up 0.12%, following strong gains last week
Monday 8th March 2010
Britain's leading shares index the FTSE 100 has ended Monday up 0.12 per cent or 6.96 points to 5,606.72.Throughout the day Petrofac reversed losses at the end of last week, to see strong gains today, ending 4.1 per cent higher as the markets closed, following results which saw the firm's profits up 33 per cent.
Resolution Ld led the gainers Monday, ending up 4.95 per cent. Dragging on the shares index was Amec, which lost 1.91 per cent, while British Airways lost 1.75 per cent and Thomas Cook group were down 1.42 per cent.
Joshua Raymond, market strategist at City Index commented: "European markets traded largely flat on Monday in a quiet session as strength in the heavyweight miners and energy sectors balanced weakness in banking and real estate stocks.
"It has been a slow start to the week without much drive behind equity moves today. Investors seem to be a bit hesitant as to whether Indices can push on from here after the recent strong gains that took the FTSE 100 to a new 17 month high.
"Today's moves lacked vigour. Whilst this could simply be down to a slow return from the weekend by investors, it could also be because traders are a little hesitant as to how much further there is to go before some bouts of consolidation."
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