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Bank move to ease liquidity pushes London shares up
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09:00, March 28, 2008

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The London stocks market struggled higher on Thursday with the FTSE 100 index up 1 percent, or 57.1 points at 5,717.5, on encouraging news that the Bank of England was seeking to ease liquidity for UK banks.

Bank sector rose after the central bank offered 13.6 billion pounds at its regular open-market operation, up from 10.93 billion pounds the previous week.

Persimmon was the biggest winner, up 7 percent, as investors bought shares on the cheap after Wednesday's sell-off.

Among the smaller firms, shares in Wolfson Electronics, which supplies chips used in Apple's iPod, sank by 18 percent after the firm said its products had not been selected by a "major customer" for inclusion in a new range of products.

Source:Xinhua



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