Partygaming limits FTSE gains

A tame US inflation report sent stocks higher towards the end of trading, although Partygaming pulled the index back down with a drop of 8.62% to 100.75p, as Vienna-listed peer BWin Interactive was suspended from trading after another region revoked its betting licence.

Miners also featured heavily in the fallers with Rio Tinto down 3.53% to £24.32, closely followed by Kazakhmys which slipped 3.38% to £12.01 as gold futures hit a three month low.

On the bright side, banks performed well, with HBOS posting the largest gains with a rise of 3.6% to £10.50, and Northern Rock added 2.6% to £11.65, although Schroders slipped to end the day the second biggest loser with a fall of 4.08% to 823.5p.

Meanwhile, Liberty International added 3.02% to £11.95, while Drax Group gained 2.86% to 900p, and BAE Systems jumped 2.46% to 385.25p, although Lonmin helped limit gains with a drop of 3.35% to £26.22.

In the US, the Dow Jones Industrial Average is up 40.42 points, or 0.35%, to 11,567.81, as a report showed consumer prices rose in line with market expectations in August, soothing concerns about higher inflation and interest rates.

Microsoft has posted the biggest gains so far with a rise of 2.05% to $26.88, while United Technologies is also performing well with gains of 1.43% to $63.90, and 3M Company has added 1.37% to $74.54.

However, General Motors is the biggest drag on the Dow so far with a drop of 3.22% to $31.90, closely followed by Intel which has slipped 0.61% to $19.67, while Ford has dropped 1.09% to $9.09.

AT&T is also down 0.5% to $32.09, while Verizon Communications has dropped 0.42% to $35.83, while Disney has also slipped 0.3% to $30.30, although Honeywell International is limiting the losses with gains of 1.92% to $39.78, while JP Morgan Chase is also up 1.35% to $47.13.

IFAonline

Categories: Investment| Economics / Markets

Tags: Dow jones| Ftse 100| Hbos