Established 1999
123jump.com - U.S. Financial Information Archive: 90,000 Annual and 10-K reports – 20,000 Global news stories - 3,500 IPO reports - 1,700 - Earnings Calls – 320 Fund Interviews – 10-year Annual earnings on 4,500 stocks – 20 Quarterly earnings on 3,600 stocks – 1,800 IPO prospectuses – 1,200 Economic data releases
     
   
 
UK Market Update : 
Financials, Miners, Commodities Surge
Author: 123jump.com Staff
123jump.com
Last Update: 4:40 PM EDT April 16 2008

(Continued)

Email article | Print article

UK stocks surged after rally in the U.S. stocks, lower than expected unemployment and possible help from the Bank of England to ease credit markets. Rise in crude oil and precious metals prices helped miners to recover. BHP, Rio Tinto and Antofagasta led the gainers. HSBC, Royal Bank of Scotland and Barclays rose after the earnings report from JP Morgan met analysts expectations. FTSE 100 gained 2.36% or 139.3 to 6,046.20.

 
Financial stocks also gained after JP Morgan Chase first quarter profits were in line with analyst expectations, net income fell 50% to $2.4 billion. The bank wrote down assets worth $5.1 billion.

Energy stocks climbed as crude oil prices rose to a record $114.95 per barrel. Rio Tinto surged 6% on the speculation that BHP may hike its $155 billion takeover bid, BHP rose 5.37% and Kazakymys Plc increased 3.58%.

Legal & General Group led decliners in the FTSE 100 index shares with a drop of 4.89% followed by losses in BAE Systems Plc of 2.35%, in Smith & Nephew of 1.94%, in Friends Provident Plc of 1.35%, and Diageo Plc of 0.66%.
  1  2 More: UK Market Update Archive

 

© 1999-2008 123jump.com. All rights reserved