Date: Thursday 17 Jul 2008
LONDON (ShareCast) - Banks are rallying on the better than expected numbers from US investment bank JP Morgan.
The US investment bank still posted net income down by 53% at $2bn in the second quarter, but market estimates had been for much worse. Royal Bank of Scotland and Barclays rallied on the news as both have large US exposures.
A third day of falls for the crude oil price has seen some profit taking among the oil producers with Cairn and Tullow giving back some of their recent gains. Power stocks are also lower led by Drax and International Power.
FTSE 100 - Risers
Royal Bank of Scotland Group (RBS) 184.80p +12.00%
Barclays (BARC) 292.25p +9.56%
Standard Chartered (STAN) 1,471.00p +9.12%
ITV (ITV) 44.80p +8.74%
InterContinental Hotels Group (IHG) 697.00p +8.74%
Old Mutual (OML) 95.50p +8.52%
Invensys (ISYS) 259.75p +8.23%
Marks & Spencer Group (MKS) 259.00p +8.03%
FTSE 100 - Fallers
Drax Group (DRX) 719.50p -4.58%
British Energy Group (BGY) 710.00p -1.73%
International Power (IPR) 418.75p -1.59%
Severn Trent (SVT) 1,293.00p -1.52%
AstraZeneca (AZN) 2,221.00p -1.46%
Tullow Oil (TLW) 778.00p -1.27%
Cairn Energy (CNE) 2,566.00p -1.16%
Shire Ltd (SHP) 736.50p -1.14%