FTSE up on Friday morning
The FTSE 100 share index rose early on Friday thanks to rising commodities. By 8:57 am the index had risen 0.5 per cent by 28 points to 5,434.8.
FTSE up as energy stocks gainBanks saw their values increase with Barclays, HBOS, HSBC, Lloyds TSB and Standard Chartered up 0.2 to 1.8 per cent. Royal Bank of Scotland however fell almost one per cent after Zurich Financial said it would not be bidding for its insurance business on Thursday.
Oil firms did well with BG Group, BP, Cairn Energy and Tullow Oil rising two to 2.9 per cent.
Mining companies Anglo American, Antofagasta, BHP Billiton, Eurasian Natural Resources, Lonmin, Rio Tinto, Vedanta Resources and Xstrata all rose 0.8 to 1.7 per cent.
Vodafone however fell 1.4 per cent after a Financial Times report said it could face a $4 billion bill if it loses a court battle with the Indian government.
- 1 Dollar rally unstoppable
- 2 Markets nervous on return of short sellers
- 3 Lehman demise could end speculative raid on taxpayers
- 4 AIG in focus as financial meltdown spreads
- 5 Goldman and Morgan Stanley face biggest test
- 6 Lloyds says no comment on report of HBOS deal renegotiation
- 7 Rate cut to be passed on to savers
- 1 FTSE seen opening more than 6 pct lower
- 2 Panic strangles Asia stocks but yen firm
- 3 Coordinated rate cuts spark Asia stocks rally
- 4 FTSE slides as fear mounts
- 5 Government won't tell Bank to cut rates
- 6 Stocks off 5 pct, yen surges as crisis spirals
- 7 World stocks fall but calm returns after sell off
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