FTSE 100 turns back up 0.41%

Wednesday 29th July 2009

The FTSE 100 rose again today after yesterday's drops put an end to the 11-day rally.

The index closed its doors today up 0.41 per cent to 4,547.53 – a gain of 18.69 points.

Schroders led the gains with non-voting stock up 5.23 per cent and voting up 4.62 per cent.

Old Mutual rose 3.89 per cent, RSA Insurance gained 3.81 per cent and Royal Bank of Scotland climbed 3.56 per cent to 43.50p.

Packaging group Rexam was down 8.14 per cent after dropping its dividend, silver miner Fresnillo lost 4.42 per cent and Intertek fell 4.06 per cent.

Morning trading in New York's Wall Street saw the Dow Jones fall 0.34 per cent to 9,065.81 at 12:47 EDT (17:47 BST).

Tim Hughes, head of sales trading at IG Index, said: "The leader board was awash with green today, as the UK index returned to its upbeat ways and made yesterday’s blip seem like a slightly anomalous correction.

"No single sector dominated amongst the big gainers, with a fairly even spread across all industries."

He added: "Sentiment on equity markets has turned an important corner over the past weeks.

"Whereas previous rallies have either simply run out of momentum or given up gains at the smallest hint of trouble in the wider economy, the recent upswing seems to have some serious sticking power.

"Aside from the risk of investors suffering a mass attack of vertigo at these levels, the FTSE hasn’t looked this healthy in months."

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