FTSE recovers from early week slump

In London, market recovered from Monday’s slump, with the FTSE 100 gaining 105.7 points, or 1.73%, to 6,226.5.

ICAP made the biggest gains, up 73.5 points, or 12.86%, to 645p, followed by 3i, which saw shares rise 76 points, or 7.35%, to £11.10. Land Securities shares jumped 100 points, or 7.26%, to £14.77, British Land added 53 points, or 6.46%, to 873.5p, while Hammerson climbed 56 points, or 6.17%, to 964p.

Northern Rock continued its downward spiral and lost 7.2 points, or 6.91%, to 97p, Tullow Oil dropped 34.5 points, or 5.46%, to 597.5p, while Reuters Group shares fell 10.5 points, or 1.72%, to 600p.

On Wall Street, markets gained some of the ground lost on Monday and the Dow Jones was up 115.03, or 0.89%, to 13,073.47.

Exxon Mobile shares made the biggest gains, up 3.64, or 4.33%, to 87.75, while Microsoft added 0.79, or 2.33%, to 34.76. IBM shares climbed 2.14, or 2.09%, to 104.36, Alcoa gained 0.7, or 2%, to 35.77, while Intel added 0.45, or 1.79%, to 25.63.

American International shares fell 0.53, or 0.96%, to 54.82, American Express was down 0.32, or 0.56%, to 57.05, while Boeing lost 0.27, or 0.31%, to 88.00.

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