AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 127.04 No Change ▼ 0.00 (0%)
BOP 6.67 No Change ▼ 0.00 (0%)
CNERGY 4.51 No Change ▼ 0.00 (0%)
DCL 8.55 No Change ▼ 0.00 (0%)
DFML 41.44 No Change ▼ 0.00 (0%)
DGKC 86.85 No Change ▼ 0.00 (0%)
FCCL 32.28 No Change ▼ 0.00 (0%)
FFBL 64.80 No Change ▼ 0.00 (0%)
FFL 10.25 No Change ▼ 0.00 (0%)
HUBC 109.57 No Change ▼ 0.00 (0%)
HUMNL 14.68 No Change ▼ 0.00 (0%)
KEL 5.05 No Change ▼ 0.00 (0%)
KOSM 7.46 No Change ▼ 0.00 (0%)
MLCF 41.38 No Change ▼ 0.00 (0%)
NBP 60.41 No Change ▼ 0.00 (0%)
OGDC 190.10 No Change ▼ 0.00 (0%)
PAEL 27.83 No Change ▼ 0.00 (0%)
PIBTL 7.83 No Change ▼ 0.00 (0%)
PPL 150.06 No Change ▼ 0.00 (0%)
PRL 26.88 No Change ▼ 0.00 (0%)
PTC 16.07 No Change ▼ 0.00 (0%)
SEARL 86.00 No Change ▼ 0.00 (0%)
TELE 7.71 No Change ▼ 0.00 (0%)
TOMCL 35.41 No Change ▼ 0.00 (0%)
TPLP 8.12 No Change ▼ 0.00 (0%)
TREET 16.41 No Change ▼ 0.00 (0%)
TRG 53.29 No Change ▼ 0.00 (0%)
UNITY 26.16 No Change ▼ 0.00 (0%)
WTL 1.26 No Change ▼ 0.00 (0%)
BR100 10,010 Increased By 126.5 (1.28%)
BR30 31,023 Increased By 422.5 (1.38%)
KSE100 94,192 Increased By 836.5 (0.9%)
KSE30 29,201 Increased By 270.2 (0.93%)

The FTSE 100 added 0.6 percent on Wednesday, spurred by a strong show from banks as Northern Rock leapt on hopes of two rescue bids, while miners also supported the leading share index. Northern Rock, Britain's biggest casualty of the global credit squeeze.
Climbed 12 percent after sources said advisers to the Newcastle-based lender were in talks with buyout firm JC Flowers over a possible bid and US firm Cerberus was also interested. The FTSE 100 closed up 34.8 points at 6,535.2, as the miners-heavy index outperformed other major European indexes.
The FTSE had eased 0.1 percent in the previous session. "I think people are reasonably positive but cautious nonetheless, and that's how they should be," said Neil Parker, market strategist at Royal Bank of Scotland.
"The dividend yields and P/E ratios do suggest that the UK equity markets have further to rally, but there is a huge cloud over that optimism (as) we don't know how deep the slowdown in the UK economy is likely to be from the recent turbulence that we've had," he said.
"(But) for those who are brave enough to invest at the moment there are some absolutely terrific dividend returns." Also helping the banking sector, Deutsche Bank and Credit Suisse said they see big opportunities when the global credit crunch, which has whacked profits, starts to recede.
Alliance & Leicester rose more than 7 percent, while HSBC advanced 2.6 percent after strong performance in its Hong Kong-listed shares. All London-listed banks, except Standard Chartered which fell 0.7 percent, closed in positive territory. Old Mutual gained 4.7 percent after the insurer said it planned to buy back shares to a total value of around 350 million pounds.
Investors will look to the Bank of England's interest rate verdict on Thursday, when analysts expect the central bank to keep rates on hold at 5.75 percent, and the US non-farm payrolls data on Friday for further economic clues.
A clutch of miners bounced, encouraged by copper prices regaining some of their lustre, with Antofagasta up 2.9 percent, Kazakhmys gaining 2.3 percent and Vedanta Resources rising 1.9 percent. But oil shares weighed on the index after traders cited market talks that heavyweight BP was preparing a profit warning.
The oil giant, which denied it was giving off-the-record guidance to analysts that its third-quarter results would be lower than expected, fell 0.5 percent. Rival Royal Dutch Shell shed 1.3 percent. Index heavyweight Vodafone fell 2.5 percent and was the index's biggest laggard. Also on the downside, Wolseley, Kingfisher, International Power and Tullow Oil all fell after trading without the rights of dividend.
Pub group shares rose as the sector caught up with the recent market recovery after the global credit squeeze has jolted equities world-wide, traders said. Punch Taverns rose 3.9 percent, Enterprise Inns added 2.3 percent and Mitchells & Butlers put on 1.5 percent.

Copyright Reuters, 2007

Comments

Comments are closed.