FTSE 100 up on banks
Thursday 30th April 2009, 5:07PM BST.
The FTSE 100 continued its bank-led rally to close 1.29 per cent up at 4,243.71.
Royal Bank of Scotland shares rose 14.67 per cent, while Legal & General shares were up 13.18 per cent and Barclays jumped 9.16 per cent.
Mining stocks were also rising on higher commodity prices, with Vedanta up 8.17 per cent and Antofagasta up 7.14 per cent.
David Jones, chief market strategist at IG Index, said: “A 20 per cent-plus rally by the FTSE 100 from the March lows is an impressive performance in a six week period and today showed that there still seems to be some momentum left.
“However, to inject a note of caution into the current euphoria, the major UK and US indices are still below the January highs and it still feels a bit premature to be proclaiming that the bear market is definitely over.”
US stock markets rose in early trading, as jobless claims declined, sparking hopes for the economy.
The Dow Jones rose one per cent after opening, while the S&P 500 was up by 1.2 per cent.
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