FTSE 100 up in early trading
FTSE 100 up in early trading
Friday 17th July 2009
The FTSE 100 recorded gains in early trading today – gaining 0.60 per cent.Following steady gains seen through the week – with the index starting Monday just above the 4,100 mark – the FTSE 100 was up this morning to 4,388.06, a gain of 26.22 points.
Positivity has followed a string of healthy results from the US, leading traders to push aside some negativity about the strength of the recovery.
Last night the Dow Jones was up 1.11 per cent and the S&P 500 gained 0.86 per cent.
In London this morning gains were led by insurer Old Mutual, up 2.62 per cent, and miner Antofagasta, up 2.54 per cent.
British Airways rose 2.50 per cent to 135.40p as investors warmed to the airline's plans to put its business back on track, including the issuance of £300 million in convertible bonds.
The airline also admitted it lost some £100 million in the three months to the end of June – ahead of market expectations.
Property giant Hammerson gained 2.42 per cent and Amec was up 2.08 per cent.
Distributers Bunzl was down 2.23 per cent, Invensys fell 1.65 per cent, InterContinental Hotels dropped 1.37 per cent and Severn Trent dropped 1.10 per cent.
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