Thursday, July 7, 2011

FTSE edges up 0.11% by close (AFP)

LONDON (AFP) ? Shares in London edged higher on Tuesday despite other major European indexes slipping on fresh doubts over feasibility of the latest plans for a second Greek debt rescue.

The benchmark FTSE 100 index of top stocks closed up 0.11 percent at 6,024.03 points.

A soft Wall Street opening after the Independence Day holiday weekend provided no support, with investors wondering whether a new Greek debt rescue could survive a Standard and Poor's warning that it involved an effective Athens default.

The blue-chip Dow Jones Industrial Average was flat at around 1710 BST while the tech-heavy Nasdaq Composite added 0.14 percent.

In London, Lloyds Banking Group (LBG) was the most traded stock, seeing 111 million shares changes hands, followed by Vodafone, which saw 82.5 million switch owners.

London-based explorer Tullow Oil ended the day as the top blue-chip riser, gaining 3.83 percent -- or 48 pence -- to 1,301.

It was followed by engineering company IMI, which added 3.8 percent -- or 41 pence -- to end at 1,1119.

Product-testing firm Intertek was the worst blue-chip performer, dropping 2.7 percent (or 53 pence) to finish at 1,910, followed by Lloyds, which slipped 2.2 percent (or 1.1 pence) to end at 48.78.

On the currency markets, a pound was worth $1.6084 at 17:10 BST, fractionally down from 1.6090 at around the same time on Monday, while it stood at 1.1113 euros, up from 1.1051 over the same period.

Source: http://us.rd.yahoo.com/dailynews/rss/business/*http%3A//news.yahoo.com/s/afp/20110705/wl_uk_afp/britainstocksclose

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