FTSE 100 index closing at a 4 month high
by Greg Secker on Sep.06, 2010, under Finance
UK Stock Market Report 6th September 2010
FTSE 100 climbed 1.1% or 57.1 points to 5,428.2. FTSE 250 added 0.6% or 63.1 points to 10,204.1.
Yesterday, UK markets were higher with the FTSE 100 index closing at a 4 month high, as the latest payroll data pointed to improving conditions in the US job market. Miners, Kazakhmys, Anglo American and BHP Billiton, gained between 1.8% and 3.1%, after firm base metal prices. Oil producers, BP, Essar Energy and Royal Dutch Shell, added between 1.7% and 2.3%, due to hopes that energy demand would increase. Vodafone, is up 1.1%, this led telecommunications stocks higher, after Credit Suisse upgraded the sector, citing a rise in the confidence in the sustainability of strong cash flows and dividends due to improving growth. Takeover speculation kept investors interested in Aggreko, Premier Foods and Autonomy, while positive broker reviews benefited BAE Systems and MAN Group.
