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FTSE lifts above 4,500

London equities opened higher today at 4,409 with financial stocks lifting the index as high as 4,510 ahead of the results of the US stress tests.

By 9.30am, the index was up 1.5 per cent to 4,459 with Barclays up 2.6 per cent to 295.50p and HSBC up 4.4 per cent to 562.75p.

By 11.20am it was 2.3 per cent higher at 4,449 after hitting an intraday high of 4,510 with confidence boosted by Barclays’ robust results.

Lloyds Banking Group plummeted 8.6 per cent to 103.70p on the back of another loss warning from the lender this in an interim statement this morning.

Insurers led gains with Legal & General up 10.7 per cent to 72.40p, Prudential up 4.3 per cent to 444.50p and Aviva up 6.1 per cent to 359p.


On the Bright side

I ended up in this industry as a result of a three-week rugby tour to the US. At the end of the tour, I missed my plane home (don’t ask), met a girl, married her and, having obtained my Green Card, followed the very pointed advice of my new mother-in-law to “find a proper job”.

Webb to head fund admin firm

Peter Webb has re-entered the financial industry as chief executive officer (CEO) of Structured Investment Products (SIP), a fund administration business.Webb has taken up the post 10 months after stepping down as chief executive of Unicorn Asset Management, the small-cap firm he founded in 2000. During his time off, Webb says he was looking for […]

Gartmore appoints head of high yield

Kam Tugnait is joining Gartmore as head of high yield with responsibility for the High Yield Corporate Bond fund. He will run the £130.7m fund with Simon Surtees, although the group has not yet decided who will be the named lead manager. Surtees previously managed the fund with Karl Bergqwist, the co-head of the fixed […]

Get your New Year off to a flying start

Ross Jackson, Senior Marketing Manager There’s no denying that these days we expect things quickly. You might have noticed it first-hand during the flurry and rush of the Christmas period. The fact is that in a world of smartphones, social media and click and collect, most clients expect to get an instant response and a […]


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