Wall Street rally boosts FTSE 100
Friday 24th April 2009, 9:31AM BST.
An overnight rise in US stock markets helped lift the FTSE 100 in early trading, boosting the index 33 points to 4,051.16.
Xstrata was up 4.10 per cent, while Kazakhmys rose 3.88 per cent and Lloyds Banking Group jumped 3.1 per cent by 08:20 BST.
Shares in investment firm Schroders were still falling, however, down 1.41 per cent.
Most of the stocks on the UK’s leading share index were heading upwards after opening, despite forecasts of another fall in GDP this morning, following a rally on the US markets last night.
The Dow Jones was up 0.9 per cent, while the S&P 500 rose one per cent, as several regional banks posted better-than-expected results.
Investors will be eyeing GDP data set to be released later this morning to see how far the economy has contracted over the last quarter.
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