FTSE rebounds from Friday's losses

Monday, 17 May 2010 12:30

By myfinances.co.uk staff

The UK's leading shares index the FTSE 100 was up in early trading, despite losing over three per cent on Friday.

By 08:38am the FTSE had gained 0.54 per cent, up 28.18 points to 5,291.03.

Amid the gainers was tobacco; seeing British American Tobacco up 1.01 per cent and Imperial Tobacco Group up 0.82 per cent.

Leading in early trade was Randgold Resources up 3.66 per cent, while BP was also among the early risers, adding 2.07 per cent, as the oil giant said it had been able to siphon oil from a leaking well in the Gulf of Mexico.

Leading the fallers was Lloyds Banking Group, down 2.27 per cent, closely followed by Royal Bank of Scotland Group which dragged down 1.8 per cent. Airline British Airways (BA) - which this week faces the double setback of strikes and ash cloud disruption - shed 1.23 per cent this morning.

Shares in Prudential fell 1.01 per cent after the insurer set out plans for a £14.4 billion rights issue.

The euro fell to a four-year low against the dollar today after renewed fears over the stability of the eurozone.

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