FTSE 100 up after rate cut falls
FTSE 100 up after rate cut falls
Friday 7th November 2008
The FTSE 100 rose this morning, after its recent rally came to a close yesterday following the Bank of England's decision to cut interest rates to three per cent.At 8:51 GMT the index was up 1.17 per cent to 4,322.20 – a rise of 49.79 points.
Leading the gains was British Airways – up 13.41 per cent to 148p – despite reporting a 91.6 per cent fall in profits after recent oil price highs.
Energy services firm Wood Group rose 5.13 per cent, miner Eurasian was up five per cent, software producer Autonomy gained 4.65 per cent and Invensys was up 4.56 per cent.
Greatest falls came to Aviva – down 3.55 per cent – followed by hedge fund Man Group dropping 2.5 per cent.
Platinum producer Johnson Matthey was down 1.79 per cent, Prudential dropped 1.78 per cent and Cadbury was down 1.24 per cent.
Last night on Wall Street the Dow Jones was down 4.85 per cent and there was a mixed picture overnight in Asia with the Hang Seng up 3.29 per cent but the Nikkei fell 3.55 per cent.
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