FTSE 100 extends gains to fifth day
FTSE 100 extends gains to fifth day
Monday 24th August 2009
The FTSE 100 closed 0.93 per cent higher to 4,896.23 to extend its rally to a fifth day, as stock markets around the world headed higher.Federal Reserve chairman Ben Bernanke's comments on Friday, growing optimism among businesses and even the cricket helped boost investor confidence on the blue-chip index.
Financial stocks performed well as investors moved into riskier territory, while commodities also rose on firmer metals prices.
Royal Bank of Scotland led the way, up 6.75 per cent, followed by Lloyds Banking Group, up by 6.29 per cent and miner Kazakhmys, up by 5.77 per cent.
Defensive stocks were heading lower on the index, as investors moved to riskier bets.
GlaxoSmithKline fell by 1.27 per cent, Unilever was down by 0.83 per cent and Imperial Tobacco fell 0.8 per cent.
Over in the US, markets were climbing going into afternoon trading. The Dow Jones was up by 0.59 per cent, while the S&P 500 rose by 0.64 per cent.
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