FTSE 100 jumps 0.9%

Wednesday, 09 July 2008 12:00

The FTSE 100 continued yesterday's closing rally and rose 0.92 per cent in early trading.

The index - still recovering for deep falls yesterday - was up 50.20 points to 5,490.50 at 9:34 BST.

After falls recorded yesterday on revenue fears, London Stock Exchange Group rose 7.6 per cent this morning.

Financials also saw a boost - amid rumours of a deal by the top six banks to back ailing Bradford & Bingley.

Lloyds TSB rose 4.9 per cent, Standard Chartered climbed 4.06 per cent, Royal Bank of Scotland edged up 3.77 per cent and Legal & General climbed 3.74 per cent.

Outside the FTSE 100, Bradford & Bingley rose 5.88 per cent to 36p, while Alliance & Leicester pushed up 7.68 per cent.

Despite more bad news of job losses in the construction sector Barratt Developments and Taylor Wimpey rose 16.67 per cent and 7.69 per cent respectively.

Back in the FTSE 100, advertising giant WPP fell 2.37 per cent ion news of a £1bn hostile bid for market research firm TNS.

International Power dropped 1.71 per cent, Enterprise Inns fell 1.59 per cent, SABMiller was down 1.36 per cent and Sainsbury slipped 1.3 per cent.

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