Friday, July 1, 2011

FTSE climbs on US manufacturing data (AFP)

LONDON (AFP) ? Stocks in London closed sharply higher again on Friday, buoyed by better-than-expected data from the US on the performance of the manufacturing sector there in June.

The benchmark FTSE 100 index of top shares up 0.74 percent at 5,989.76 points.

The Institute of Supply Management said the US manufacturing sector picked up pace in June hinting at a pick-up in the economy at the end of a slumping second quarter.

The ISM purchasing managers index for the manufacturing sector climbed 1.8 percent in June to a better-than-expected 55.3, from 53.5 in May.

In London, Lloyds Banking Group (LBG) was the most traded stock, seeing 205 million shares changes hands, followed by Vodafone, which saw 121 millions switch owners.

UK-based interdealer broker ICAP -- the second worst performer Thursday -- ended the day as the top blue-chip riser, gaining 5.12 percent -- or 24.2 pence -- to 487.2.

It was followed by Lloyds, yesterday's top climber, which enjoyed another positive performance to add 3.69 percent -- or 1.81 pence -- to end at 50.81.

Gold producer Randgold Resources (RRS) was the biggest faller, dropping 1.52 percent -- or 80 pence -- to 5,175, followed by product-testing firm Intertek, which fell 1.42 percent -- or 28 pence -- to 1,945.

On the currency markets, a pound was worth $1.6071 at 17:10 BST, marginally down from $1.6074 at the same time on Thursday, while the currency was worth 1.1077 euros, up from 1.1060 over the same period.

Source: http://us.rd.yahoo.com/dailynews/rss/stocks/*http%3A//news.yahoo.com/s/afp/20110701/wl_uk_afp/stocksbritainclose

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