UK market returns to its gaining ways

The FTSE blue-chip and mid-cap indices both returned to gains on Wednesday as financials helped fuel markets around Europe

Holly Cook 29 July, 2009 | 6:05PM

UK markets returned to their gaining ways on Wednesday, after a brief sojourn into red territory yesterday, pushed higher by financials--both banks and broader industry plays.

Both the FTSE 100 and FTSE 250 indices ticked up 0.4%, closing 18.7 points higher at 4,547.5 and 31.4 points ahead at 7,762.6, respectively. European indices also regained upward momentum, with France’s CAC 40 climbing 1.0% and Germany’s DAX jumping 1.9%. The latter’s performance was particularly strong following positive reactions to results from Bayer and Daimler.

A weak start on Wall Street failed to offset market gains on this side of the pond as UK and European financials rode high following upbeat numbers from Spanish bank Santander.

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Holly Cook

Holly Cook  is Manager, Morningstar EMEA Websites

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