FTSE 100 up 0.28%
FTSE 100 keeps rising
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Wednesday, 22, Jul 2009 05:52
The FTSE 100 managed to finish the day in positive territory – after spending much of the day below the opening mark.
However, it still managed to miss the 4,500 mark.
At close, the index stood at 4,493.73 – rising 12.56 points or 0.28 per cent – despite the miners digging in.
Lonmin was down 3.15 per cent, Kazakhmys dropped 2.12 per cent and BHP Billiton fell 1.80 per cent.
Aviva dropped 2.24 per cent while Barclays fell 3.14 per cent, suffering from a poor earnings announcement from Morgan Stanley.
Leading gains was Shire up 3.96 per cent, while Next rebounded to gain 3.28 per cent.
Reed Elsevier was up 3.20 per cent and TUI Travel rose 3.00 per cent.
In New York, morning trading saw the Dow Jones dance around the opening price, standing down 0.14 per cent at 12:20 EDT (17:20 BST) – as traders on both sides of the Atlantic caught a breath to take stock after recent gains.
David Jones, chief market strategist at IG Index, said: "The FTSE 100 is currently enjoying something of a winning streak as companies seem to have consistently posted profits that have beaten analyst’ expectations.
"Investors will be looking to Friday's UK GDP figures in the hope that if more positive data emerges it will spur the markets on further."