FTSE up for a seventh day

Wednesday, 17 February 2010 10:29

By myfinances.co.uk staff

The FTSE 100 Index gained 0.6 percent to 5,275.91 as stocks advanced for the seventh time in eight days, led by Man Group and Barclays Bank.

Man Group, the biggest publicly traded hedge-fund manager, rallied 5.4 per cent to 240p after its flagship AHL Diversified Futures fund rose 0.2 per cent in the week to February 15th, Man said after markets closed yesterday, the first weekly advance in five weeks.

Barclays rose 2.1 per cent to 300p as Royal Bank of Scotland Group raised its recommendation to "buy" and Bank of America-Merrill Lynch Global Research increased its price estimate to 470p. Barclays jumped the most in eight months yesterday after second-half profit more than doubled.

Debenhams gained 3.2 per cent to 66.8p after it was upgraded to "buy" from "hold" at Societe Generale SA, which wrote in a report that the retailer may attract a private- equity takeover bid after reducing its debt

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