FTSE surges on US GDP news

In London, trading surged in the late afternoon to put the FTSE 100 up 73.1 points (1.32%) to 5,601.2 after good news emerged from across the Atlantic.

Sainsbury shares added 25.25p (7.92%) to 344p, while Wolseley climbed 24.5 (5,87%) to 442p.

Kazakhmys shares fell 34p (2.54%) to £13.05 and Severen Trent lost 30p (2.14%) to £13.75.

On Wall Street, trading got off to a positive start after US GDP growth for the year to June 2008 unexpectedly rose to 3.3%, putting the Dow Jones up 137.2 points (1.19%) to 11,639.71.

AT&T shares added 0.92 (2.95%) to $32.12, while Boeing gained 1.86 (2.91%) to $66.40.

Only two shares had seen values fall by mid-morning, with Coca-Cola losing 0.47 (0.87%) to $53.32, while Chevron dipped 0.36 (0.42%) to $86.26.

If you would like to comment on this story, contact:

John Bakie
Tel: 020 7484 9805
e-mail: John.Bakie@incisivemedia.com