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London shares buoyed by Wall Street London shares buoyed by Wall Street
(about 4 hours later)
(Midday): London's benchmark index continued to move higher on Friday, following Thursday's 2% jump.(Midday): London's benchmark index continued to move higher on Friday, following Thursday's 2% jump.
The FTSE 100 was up 28.38 at 6,494.38, or 0.44%, with Europe's other main stock markets also rising.The FTSE 100 was up 28.38 at 6,494.38, or 0.44%, with Europe's other main stock markets also rising.
Tesco shares were the biggest gainer by midday, up by 4%, boosted by a positive analyst note.Tesco shares were the biggest gainer by midday, up by 4%, boosted by a positive analyst note.
John Wood. the energy services group, dropped 5%, despite former boss Ian Wood saying fears of a collapse in North Sea oil industry were overdone. John Wood, the energy services group, dropped 5%, despite former boss Ian Wood saying fears of a collapse in North Sea oil industry were overdone.
The price of oil was up 1.2% for Brent at $59.99, just hanging on beneath the $60 a barrel level.The price of oil was up 1.2% for Brent at $59.99, just hanging on beneath the $60 a barrel level.
Still in the energy sector, Tullow Oil shares were up 4%, reversing an earlier fall of almost 2%.Still in the energy sector, Tullow Oil shares were up 4%, reversing an earlier fall of almost 2%.
Global markets have pulled out of their recent slump after the US Federal Reserve reassured that it will take a patient approach to raising interest rates.Global markets have pulled out of their recent slump after the US Federal Reserve reassured that it will take a patient approach to raising interest rates.
On Wall Street last night, the Dow Jones index jumped by 420 points, or 2.4%, in its biggest one-day surge in three years,On Wall Street last night, the Dow Jones index jumped by 420 points, or 2.4%, in its biggest one-day surge in three years,