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U.S. interest-rate cut boosts London stock market |
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10:11, May 03, 2008 |
The London Stock Market was boosted at midday Friday by a renewed sense of optimism on Wall Street as a result of the Fed's latest interest-rate cut.
London's FTSE 100 index was 56.9 points higher at 6144.2 at midday after the Dow Jones closed at a three-month peak.
Firms with major U.S. exposure such as Wolseley were favored while retailer Next shot up 6.7 percent ahead of a trading statement due next week.
But BG Group slid further, down 1.9 percent on fears of a 6-billion-pound (12 billion U.S. dollars) planned acquisition.
Source:Xinhua
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