FTSE 100 up after Tuesday's downs

20-08-2008

FTSE 100 up after Tuesday's downs
The FTSE 100 rose 0.89 per cent in early trading after yesterday's falls of 2.18 per cent.

At 8:52 BST the London index stood up 47.60 points to 5,368.00.

Traders maintained some calm after losses yesterday spawned from the prospect of further US financial woes.

Even so, the Dow Jones Industrial Average Index fell 1.14 per cent last night.

In the UK, the morning trading saw gains for energy and commodities stocks and a mixed bag of losses.

Tullow Oil rose 6.84 per cent, while John Wood Group gained 6.10 per cent.

Miners Rio Tinto and BHP Billiton rose 4.55 per cent and 4.21 per cent respectively, while Petrofac gained 4.09 per cent.

Meanwhile, BT was down 5.47 per cent, Barclays fell 3.01 per cent and ITV was down 2.67 per cent.

Scottish & Southern Energy dropped 2.55 per cent, and Sainsbury dipped 2.30 per cent.

On the currency markets, sterling was down against the dollar and the euro. £1 is now worth $1.85935 and €1.26025, making €1 worth £0.79335.


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