Riyadh Emir inaugurates International Conference on Conjoined Twins in Riyadh    Saudi delegation participates in the 7th U20 Deans Summit in Brazil    Al-Jubeir discusses with EU officials enhancing bilateral cooperation    GASTAT: Non-oil exports up 22.8% in September 2024    Saudi Arabia to host 28th Annual World Investment Conference in Riyadh    Saudi Arabia allows licensed flour milling companies to export flour    Saudi Arabia joins international partnership initiative to boost hydrogen economy    Israeli drones kill two paramedics, injure four in southern Lebanon    Trump's new attorney general nominee sparks concerns over DOJ independence    Australia drops proposed laws to regulate social media misinformation    Six Palestinians killed in Israeli airstrikes on central Gaza    Al Khaleej stuns Al Hilal with 3-2 victory, ending 57-match unbeaten run    SFDA move to impose travel ban on workers of food outlets in the event of food poisoning    Al Okhdood halts Al Shabab's winning streak with a 1-1 draw in Saudi Pro League    Mahrez leads Al Ahli to victory over Al Fayha in Saudi Pro League    Saudi musical marvels takes center stage in Tokyo's iconic opera hall    Al Khaleej qualifies for Asian Men's Club League Handball Championship final    Katy Perry v Katie Perry: Singer wins right to use name in Australia    Sitting too much linked to heart disease –– even if you work out    Denmark's Victoria Kjær Theilvig wins Miss Universe 2024    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







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FTSE closes up 0.4 pct; banks, miners gain
Published in Saudi Press Agency on 05 - 01 - 2010

Britain"s leading share index ended 0.4 percent higher on Tuesday, hitting a fresh 16-month closing high, as banks and commodity stocks rose, but gains were capped by a fall in drugmakers on concerns over vaccine sales, according to Reuters.
The blue chip FTSE 100 closed 22.16 points higher at 5,522.50, its highest close since Sept. 2, 2008 -- the month when Lehman Brothers collapsed. It had also hit a 16-month closing high on Monday.
Barclays gained 6.2 percent, with traders citing market talk that the lender could lift its outlook.. Lloyds Banking Group, HSBC and Standard Chartered were up 1.4 to 3.4 percent.
Meanwhile Royal Bank of Scotland, the worst-performing FTSE 100 stock in 2009, rose 10.3 percent to the top of the gainers" list.
Man Group climbed 4.1 percent after Nomura issued an upbeat note on the speciality finance sector, advocating a "buy" on the hedge fund group.
Miners were in positive territory, with investors still heartened by Monday"s strong manufacturing data from China, although base metals prices were largely lower.
Xstrata, Rio Tinto, Lonmin and Eurasian Natural Resources rose 1 to 2.2 percent.
Energy stocks were also in favour as the price of crude oil edged up towards $82 a barrel. Royal Dutch Shell, BP and BG Group added 0.3 to 1.1 percent.
Investors are seen keenly awaiting December"s U.S. non-farm payrolls numbers on Friday, which are expected to provide an indication of the health of the economy and could give further direction to equities.
"The U.S. non-farm payrolls will be the big cue. Volumes still haven"t returned to normal and I would imagine that people will be waiting for that and from next week on you"ll see proper volume returning to the market," said Arifa Sheikh-Usmani, equity trader at Spreadex.
Earlier, data showed a bigger-than-expected fall in pending sales of previously owned U.S. homes, which dipped 16 percent in November.
Drugmakers were pressured after France cancelled over half the H1N1 flu shots it had ordered from Sanofi-Aventis, GlaxoSmithKline, Novartis and Baxter International due to over-supply.
GlaxoSmithKline dropped 2.4 percent, while AstraZeneca and Shire lost 1.1 and 0.8 percent respectively.
Among individual stocks, Cadbury shed 3.2 percent. Warren Buffett"s Berkshire Hathaway Inc, which owns 9.4 percent of Kraft Foods, said it had voted "no" to Kraft"s proposal to issue up to 370 million new Kraft shares to help fund a Cadbury takeover.
Earlier, Kraft said it was raising the cash portion of its hostile 10 billion pound ($16.11 billion) takeover offer for the British confectioner by 60 pence per share, funded by a deal to sell its North American pizza unit to Swiss food giant Nestle.
Next fell 1.8 percent after the fashion chain warned 2010-11 profits could be flat, even as it upgraded 2009-10 forecasts after a solid Christmas.
Marks & Spencer, which is due to issue a trading update on Wednesday, dropped 1.8 percent, while Home Retail and Kingfisher lost 1.9 and 1.3 percent.


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