FTSE 100 jumps on opening

Monday, 20 October 2008 09:56

The FTSE 100 continued its gains recorded the last hours of Friday and started Monday with a nearly 100 point jump.

At 9:25 BST, after some settling, the index was up 1.19 per cent - or 48.35 points - to 4,111.36.

Prudential saw the biggest gains of the morning - after reports the insurer was to buy AIG's Asian assets - putting it up 12.22 per cent to 303p.

Elsewhere, commodity stocks led the gains, with BG Group up 7.67 per cent, Cairn Energy rising 6.53 per cent, Rio Tinto lifting 5.38 per cent and Royal Dutch Shell 'B' rising 4.07 per cent.

Standard Life saw the greatest losses - down 6.33 per cent - while fellow insurer Royal & Sun Alliance dropped 4.58 per cent.

3i Group dropped 3.02 per cent and AMEC was down 2.87 per cent.

In Europe the Cac 40 started up 0.98 per cent, while the Dax gained 1.34 per cent.

In Asia the Hang Seng and Nikkei was up 5.28 per cent and 3.59 per cent respectively.

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