- Alliance Trust 463.00 0.00
- Cqs Div Fnd. 103.25
+0.13 - Fidessa Group 1,970.00 0.00
- Rolls-royce Hlg 1,222.00 0.00
FTSE ends the day sharply higher as QE3 boosts markets
Friday, 14th September 2012
END-OF-DAY REPORT: Headline ended the day sharply higher in the wake of the US launch of QE3, with resources stocks leading the charge and Royal Bank of Scotland higher on announcement of the Direct Line IPO.At the close of business, the FTSE100 was up 95.63 points at 5,915.55 with the FTSE250 ahead 269.59 points at 12,116.12 and the FTSE Smallcaps 37.59 points better at 3,226.38.
NEW YORK
US stocks moved firmly higher in late morning trade as investors continued to revel in yesterday's launch of QE3 by the Fed, shrugging off news of a fall in industrial production and helped by a welcome rise in consumer confidence.
Approaching the close in London, the Dow Jones Industrial Average was up 59 points at 13,599, the S&P500 added 9 points at 1,469 and the Nasdaq Composite advanced 32 points at 3,189.
LONDON MARKETS
Global markets reacted positively after the US Federal Reserve said it will spend $40bn a month, for as long as it takes, to stimulate the economy. The move stimulated commodities markets and settled nerves in the financial world today.
Mining stocks led the charge in London as metals prices jumped on hope of increased demand following the US stimulus move, with Kazakhmys topping the leaderboard, up 93p at 773p. Vedanta Resources rose 128.5p at 1,060.5p and ENRC improved 35.7p at 363.2p.
Randgold Resources surged 510p at 7,420p as the price of gold firmed over $1,770 an ounce, while Fresnillo advanced 167p at 1,870p.
Oil producers reacted positively Nymex crude edging towards $100 a barrel, with Shell ahead 10p at 2,327p, BP up 5.35p at 450.2p and BG Group 38p better at 1,301p.
In the banking world, the long-awaited announcement of the flotation of insurance group Direct Line from Royal Bank of Scotland finally emerged today, boosting RBS shares 5.1p at 279p. Elsewhere, Lloyds lifted 1.12p at 40.01p and Barclays added 11.1p at 229.05p.
Aviva led the insurers higher, gaining 11.9p at 363.1p, while auto specialist Admiral rose 30p at 1,123p.
Holiday Inn operator InterContinental Hotels Group improved 43.17p at 1,642p after finally announcing its special dividend will be 108.4p per share.
Other notable gainers included plumbing giant Wolseley, up 142p at 2,811p, industrial pump maker Weir Group, ahead 92p at 1,825p and oil industry service group Petrofac, 53p higher at 1,667p after an upgrade from hold to buy at Investec.
On the limited downside with blue chips, Intertek Group fell 11p at 2,718p when HSBC downgraded the product tester from overweight to neutral.
BT Group slipped 3.8p at 233p as it became embroiled with BSkyB over its deal on Rugby broadcasting rights. BSkyB was the worst performer of the session, down 20p at 720p.
Midcap pub operator JD Wetherspoon jumped 15.1p at 475.7p after reporting profit before tax and exceptional items increased by 8.4% to £72.4m in the year to 29th July. (2011: £66.8m).
Story provided by StockMarketWire.com
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