FTSE 100 starts week with optimism

20-04-2009

FTSE 100 starts week with optimism
The FTSE 100 has started the week by rising 0.5 per cent to 4,112.68 by 08:30 BST on a surge on investor optimism ahead of the Budget and several expected results.

Financial stocks fared well on the UK's leading index, with Lloyds Banking Group rising 8.51 per cent and Royal Bank of Scotland up 8.26 per cent.

Energy and mining stocks also rallied, as Vedanta Resources jumped 1.4 per cent and Xstrata was up 1.36 per cent, while Royal Dutch Shell shares were up by 1.14 per cent.

Several stocks were trading lower, however, including travel firms TUI Travel, down 3.34 per cent and Thomas Cook, down 1.93 per cent.

US markets ended relatively flat on Friday afternoon, with the Dow Jones up 5.9 points and the S&P 500 up 4.3 points.

Tesco is expected to post record revenues tomorrow, while analysts are also positive ahead of a trading statement from publishing group Reed Elsevier.

Meanwhile on Wednesday, Alistair Darling is expected to announce help for small businesses in the Budget and a cut in public spending.

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