FTSE 100 closes above 4,000
The FTSE 100 responded uneasily to the Budget, rising 43 points back over the 4,000 mark.
Budget" class="imageframe alignright" height="200" src="http://pictures.directnews.co.uk/liveimages/Cityscape_1455_19134682_0_0_7000949_300.jpg" width="200"/>The FTSE 100 responded uneasily to the Budget, rising 43 points back over the 4,000 mark.
The UK's top share index dropped immediately after the Budget, which contained some gloomy predictions for the economy.
But the market rallied by the end of the afternoon, closing 1.08 per cent up at 4,030.66, the FTSE 100 was lifted by banking and retail stocks.
Property firm Hammerson topped the list, rising 11.31 per cent, closely followed by a 9.55 per cent rise in Barclays.
DIY chain Kingfisher was also up, by 7.44 per cent, while clothing retailer Next rose 7.33 per cent.
Weighing on the index were several companies that went ex-dividend today, including Centrica, down by 4.47 per cent, and Reed Elsevier, which dropped by 4.06 per cent.