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FTSE 100 continues rally
Friday 15th August 2008, 10:03AM BST.
The FTSE 100 continued its rally this morning, opening at 5,508.10, 11 points up from last night’s close.
The London Stock Exchange led the rise, up 4.08 per cent by 09:08 BST.
British Land Company, which yesterday said it was shelving plans for a new landmark London building until office rental space demand picked up, saw its shares rise by 3.6 per cent.
British Airways also saw a jump in its share price by 3.35 per cent after stating its intention to merge its transatlantic operations with those of American Airlines.
The competition watchdogs of the US and the EU will have to approve the deal, but BA is confident the new Open Skies agreement between the two will quash any objections.
After leading the rally yesterday, stocks in miners have taken a tumble, as prices for oil, gold and copper all declined.
Kazakhmys fell 3.17 per cent, Xstrata was down 2.72 per cent and Vedanta Resources dropped 2.71 per cent.
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