FTSE up thanks to banks
Thursday 14th May 2009, 5:24PM BST.
The FTSE 100 Index closed up 31.21 points ending on slightly firmer ground at 4,362.58.
Stocks were lifted by banks and other financial services firms, as well as a stronger than expected opening by the Dow Jones in the US which edged higher after two days of losses despite the publication rising unemployment figures.
At the FTSE’s close the Dow Jones Industrial Average had already increased by 46.3 points to 8,331.
Shares in the US were making ground following two consecutive days of losses, with investors looking for bargains after the falls.
In London those making gains included insures, which were lifted after Prudential revealed its new business sales were better than expected.
Prudential itself was up 27p to 436.5p, while Friends Provident rose 3.9p to 71.6p, and Old Mutual advanced 2.6p to 67.2p.
Banks were also ahead, with Standard Chartered in particular climbing to close up 90p at £11.97.
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