FTSE 100 climbs to end higher

Thursday, 09 October 2008 12:00

The FTSE 100 ended 1.21 per cent higher than last night after afternoon falls, to finish at 4,419.50.

The index gained 52 points from yesterday's close, following a banking and commodity rally.

HBOS continued to surge ahead and was up 35.47 per cent to 158.50p, while Royal Bank of Scotland also rose, by 15.66 per cent.

Cairn Energy rose by 18.52 per cent and Eurasian Natural Resources was up by 15.22 per cent.

Most financial stocks ended higher on the index although Barclays fell by 4.04 per cent.

Utilities were also among the fallers, with National Grid down 4.09 per cent and Severn Trent down 3.09 per cent.

Ryan Kneale, market analyst at City bookmaker BetsForTraders.com said: "Things have picked up a little today but there is still a nasty undercurrent and I get the feeling we haven't seen the last of the falls.

"We have the G7 meeting tomorrow and we expect that the markets will be very volatile again, as we wait and see what the verdict from those in charge is."

• Tags:
• news
,
• share prices