FTSE 100 holds on to gains

The FTSE managed to hold onto yesterday's US-provoked gains today standing up 0.12 per cent.

At 9:43 BST the index stood at 5,608.20 – rising 7.00 points.

Early trading saw a mixed bag of gains with Petrofac leading the chase up 3.95 per cent to 645.50p.

John Wood Group was up 2.69 per cent, HBOS gained 2.62 per cent, ITV was up 2.05 per cent and Cairn Energy rose 2.00 per cent.

Enterprise Inns was down 3.65 per cent, Vodafone fell 1.93 per cent, British American Tobacco slid 1.68 per cent, Eurasian slipped 1.67 per cent and Royal & Sun Alliance Insurance lost 1.49 per cent.

Surprisingly positive US economic data – showing growth spurred by exports – lead the Dow Jones to close up 1.85 per cent and Nasdaq to end the day up 1.22 per cent.

This morning in Europe the Cac 40 was up 0.08 per cent and the Dax was down 0.15 per cent.

Sterling this morning was up 0.01 per cent against the dollar to $1.82885 and down 0.267 per cent against the euro to €1.24115.