FTSE 100 rises in early trade
Monday 19th January 2009, 10:00AM GMT.
The FTSE 100 improved slightly in early trading despite further falls in banking stocks, rising 25 points to 4,147.06 by 09:00.
Banking stocks continued to take a hammering on the index, with Barclays leading the fall, down by 24.85 per cent to 98p in early trading.
HBOS shares followed closely, falling 13.46 per cent, while Royal Bank of Scotland shares dropped by 13.03 per cent as the group warned of significant losses over 2008.
Mining stocks continued to prop up the index, with Eurasian Natural Resources up 8.74 per cent and Anglo American shares rising by 7.53 per cent.
Over on Wall Street, the Dow Jones index climbed 0.8 per cent on the energy sector, while the US government’s bailout of Bank of America helped reassure investors.
The rise also helped boost markets in Asia, with the Nikkei 225 up 0.3 per cent and Hong Kong’s Hang Seng index rising 0.64 per cent.
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