FTSE 100 stays over 4,000

Monday 6th April 2009

The FTSE 100 remained over the 4,000 mark in early trading as banking stocks lifted the index.

By 09:00, the UK's leading share index was up 1.24 per cent to 4,079.00, led by Land Securities Group, up by 8.39 per cent, and British Land Group, up by 7.32 per cent.

HSBC shares rose by 3.68 per cent after a successful rights issue, while rival bank Barclays also climbed, by 5.05 per cent, and Royal Bank of Scotland was up by 4.25 per cent.

Sainsbury benefited from an analyst note from JP Morgan advising investors to buy the firm, sending shares 3.77 per cent higher.

Several mining firms were trading lower, including Randgold Resources, down by 4.26 per cent, and Rio Tinto, which fell by 2.85 per cent.

US markets also continued to rise, with the Dow Jones closing 0.5 per cent higher on Friday and the S&P 500 was up by 0.97 per cent.
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