Afternoon Markets: Dow starts week on high

Author: Simon Danaher
IFAonline | 28 Sep 2009 | 16:15

Categories: Economics / Markets

Topics: Dow Jones| FTSE 100

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The Dow Jones has kick-started the week with solid gains in early trading on Monday.

The main US index was up 126.97 points (1.31%) to 9,792.16 by mid-morning, with few firms seeing any downside.

Chemical firm Du Pont is in top spot, advancing 2.9% to $32.66 shortly before 11am, while Merck & Co climbed 2.72% to $32.10 and General Electric rose 2.39% to $16.76.

Kraft Foods was the only notable loser on Monday. Shares fell 0.98% to $26.27 after weekend speculation the firm may be about to embark on an £11bn hostile bid for Cadbury. The firm has pursued the UK confectionary giant for some time and earlier this month saw a £9.9bn bid rejected by Cadbury's board.

Meanwhile, the UK's FTSE 100 rebounded from earlier falls, shooting up more than 80 points (1.59%) to 5,163.14.

Wolseley continues to be the favoured UK stock, gaining more than 11% to reach £14.58 by late afternoon.

 

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