FTSE 100 soars in early trading

Thursday, 09 October 2008 12:00

The FTSE 100 opened higher this morning and has continued to climb on a rally in banking and commodity stocks.

After opening over 30 points higher at 4,399.56, the index gained 2.82 by 09:05 BST.

HBOS led the risers and was up 24.87 per cent, while Royal Bank of Scotland rose 19.29 per cent. Lloyds TSB also rose, by 10.48 per cent.

Commodities also soared, with Eurasian Natural Resources rising 22.22 per cent and Cairn Energy up

Several of the 'defensive' shares that have been rising over the last few days were lower this morning.

SABMiller was down 5.91 per cent, while Land Securities Group fell by 3.51 per cent, signalling a potential return in confidence for investors.

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