FTSE 100 holds gains

Thursday 31st July 2008

The FTSE 100 held on to yesterday's gains this morning on a busy day for the markets with a raft of company announcements.

At 9:49 BST the index stood down 0.05 per cent to 5,417.50.

Holding up the FTSE 100 were the resources/commodity sectors, with Cairn Energy up 4.82 per cent and Tullow Oil up 4.64 per cent leading the gains.

Kazakhmys and Antofagasta rose 3.95 per cent and 3.61 per cent respectively.

Publisher Reed Elsevier was up 3.95 per cent after announcing it was on target to meet 2008 targets.

BT Group fell 10.12 per cent this morning after posting an income fall, while Unilever was down 7.22 per cent after revealing flat sales.

Next fell 5.58 per cent after its cautious outlook yesterday, while Lloyds TSB continued to suffer from Wednesday's announcement of a profit slump - falling 4.41 per cent.

ITV dropped 3.82 per cent.

Last night in New York, both the Dow Jones and Nasdaq rose 1.63 per cent and 0.44 per cent respectively, building on the previous day's gains.

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