FTSE 100 maintains position over 4,500

Friday 24th July 2009

The FTSE 100 rose this morning maintaining the surging gains seen late yesterday.

At 08:59 BST, the index was up 0.05 per cent or 2.36 points to 4,562.16.

Builders merchant Wolseley led the gains rising 3.36 per cent as confidence returned to construction in general following solid US housing data.

Vodafone gained 2.74 per cent, Home Retail was up 1.76 per cent and Kazakhmys gained 1.54 per cent.

Pennon group was down 3.31 per cent – still feeling the effect of the regulator's push to cut water prices.

BAE systems dropped 1.89 per cent and Eurasian fell 1.86 per cent. Both Centrica and Fresnillo fell 1.74 per cent.

Last night in New York the Dow Jones was closed up 2.12 per cent as a wave of good results pushed forward optimism – in a market that seems to be taking a boo-hurrah response to economic data.

Chicago's S&P 500 rose 2.33 per cent.

Both indices are now trading at levels not seen since January.
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