FTSE 100 closes up on Wall Street gains

FTSE 100 closes up on Wall Street gains

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FTSE rises led by commodity and retail stocks
The FTSE 100 was lifted by commodity and retail stocks in early trading on Wednesday.

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Thursday, 05, Nov 2009 05:13

The FTSE 100 recovered from a weak start to close up 0.35 per cent at 5,125.64 on Thursday, following early gains on Wall Street.

Despite being weighed down by mining stocks, which were tracking lower metal prices, the UK's blue-chip index surged in afternoon following buoyant trading over in the US.

The Dow Jones rose 1.69 per cent to 9,967.42 in early trading after better-than-expected employment figures boosted investor confidence.

Royal Dutch Shell led the pack on the FTSE 100, rising 4.87 per cent over the session, followed by Amec, up by 3.83 per cent and Schroders, up by 3.17 per cent.

Retailers also continued to climb on the index, with Next closing 2.62 per cent higher and Tesco up by 2.43 per cent.

Cable and Wireless led the group of stocks ending the day in the red, falling 6.15 per cent, followed by Whitbread, down by 4.57 per cent.

Lloyds Banking continued its decline following news of the banking bailout, dropping by 2.54 per cent, while Royal Bank of Scotland was down by 3.45 per cent.