Wall Street rally boosts FTSE 100

Friday 13th March 2009

A surge on the US stock markets lifted the FTSE 100 this morning, propelling the index 62 points higher by 08:35 GMT.

Stocks across all sectors benefited from the surge of investor confidence, which was sparked by a Wall Street jump after better-than-expected US retail data and a stable outlook for General Electric.

The FTSE opened at 3,756.73 and continued to rise in early trading, led by mining group Xstrata, which made up for some of its losses this week with a 9.35 per cent rise.

Financial stocks also continued to rally, with insurer Old Mutual up 6.48 per cent, Barclays up 6.4 per cent and Royal Bank of Scotland up 6.16 per cent.

Only British American Tobacco was in the red this morning, falling by 0.24 per cent on the index.

Yesterday, the Dow Jones index closed up 3.5 per cent, while the S&P 500 was up 4.1 per cent. ADNFCR-1783-ID-19072300-ADNFCR

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