FTSE 100 rises in early trading
Monday 26th January 2009, 10:10AM GMT.
The FTSE 100 continues to hover above the 4,000 mark in early trading, with defensive stocks leading the way.
By 09:43 GMT, the index stood at 4,086.62, just 0.88 per cent higher than Friday’s close.
Barclays led an early rise after publishing an open letter to shareholders, insisting profit will be ahead of consensus.
Shares in the bank jumped 36 per cent by 09:00 GMT to 69.7p, breaking a nine-day losing streak.
Lloyds TSB also rose, by 19.5 per cent, while HSBC jumped four per cent.
Pharmaceutical stocks also benefited this morning, with AstraZeneca up 0.9 per cent and GlaxoSmithKline rising 1.6 per cent.
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