FTSE 100 up in early trade
FTSE 100 up in early trade
Wednesday 27th May 2009
The FTSE 100 rose 18.24 points to 4,429.96 by 08:30 BST after US markets jumped yesterday on improved economic data.The blue-chip index shrugged off tensions surrounding North Korea's missile tests yesterday to finish higher, and the rally continued in early trading.
Over in the US, the Dow Jones closed 2.37 per cent higher and the S&P 500 ended 2.63 per cent up after consumer confidence data posted its biggest jump in six years.
Intercontinental Hotels was the highest riser on the index, up 3.77 per cent, while investment firm Man Group followed with a 3.69 per cent rise.
Several of the defensive stocks that had been rising yesterday fell out of favour in early trading.
Pharmaceuticals AstraZeneca fell by 1.6 per cent and Shire dropped by 0.97 per cent.
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