FTSE 100 up after losses
Tuesday 31st March 2009, 9:33AM BST.
The FTSE 100 bounced back this morning to rise two per cent by 08:49 BST as crude oil prices soared and a consumer survey showed a more optimistic outlook in March.
The index rose 75 points to 3,838.04, clawing back some of yesterday’s losses.
Market researcher GfK/NOP found consumer confidence rose to levels last seen in May, as lower interest rates and bills helped boost optimism.
Marks & Spencer led the rise, with shares up 8.41 per cent after beating sales forecasts in the fourth quarter.
Food firm Compass Group also rose, with shares up by 7.61 per cent, while miner Kazakhmys jumped 7.59 per cent.
Few stocks were in the red in early trading, with Intertek Group down 0.62 per cent, British Land Co trading -0.21 per cent lower and Randgold Resources falling 0.14 per cent.
In the US last night, markets dipped as General Motors and Chrysler edged closer to bankruptcy.
The Dow Jones fell 3.3 per cent, while the S&P 500 was off 3.5 per cent.
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