Midday Market Snapshot

UK equities gain on the back of cold weather and holiday season optimism, while latest EU policy fails to boost financials

Morningstar.co.uk Editors 20 December, 2010 | 12:26PM
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Market Snapshot
European markets posted moderate gains amid light volumes on Monday morning as traditional year-end investor optimism was supported by higher commodity prices. Still, military tensions between North and South Korea and continued worries over peripheral Europe’s debt weighed.

Shortly after midday, the FTSE 100 index had gained 0.5% or 31 points and stood at 5,902. The FTSE 250 index was up 0.1% or 12 points to 11,438.

Early Monday morning, South Korea went ahead with a much-disputed firing drill from the island of Yeonpyeong, where an attack from North Korea in November resulted in the death of four people. Seoul disregarded international advice on handling the conflict diplomatically after the UN Security Council failed to issue a resolution on the subject. Bourses in the Far East closed lower Monday; the Hang Seng shed 0.3%, the Shanghai Composite dipped 1.4% and the Nikkei 225 was down 0.9%.

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Morningstar.co.uk Editors  analyse and report on shares, funds, market developments and good investing practice for individual investors and their advisers in the UK.

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