FTSE 100 closes higher led by Carnival

Friday, 19 June 2009 12:00

The FTSE 100 jumped 1.52 per cent to end the week at 4,345.93 despite more conflicting economic news today, with Carnival leading the risers.

Carnival was up by 6.17 per cent after the cruise ship operator posted a strong trading statement, while Aviva was up by 5.81 per cent and Icap was up by 5.57 per cent.

Miners and energy stocks also enjoyed a rally after a week of weak share prices, with Lonmin up by 5.57 per cent and Xstrata rising by 4.05 per cent.

A few stocks were still in the red, including Autonomy Corporation, which fell by 1.77 per cent and Vodafone Group, down by 1.35 per cent.

Anthony Grech, market strategist for IG Index, said: "Wall Street was expected to open strongly and it duly delivered, led by the giant Microsoft.

"UK investor sentiment is definitely being led by our US friends, and with speculation over regulation due to continue and the lack of any real substantial signs of economic progress, it remains to be seen where this will eventually lead.

"It's not difficult to predict a similar pattern for the next week or so, with any substantial gains across all sectors hard fought for."

The Dow Jones gained 0.46 per cent in early trading, while the S&P 500 rose by 0.73 per cent.

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