LONDON (Thomson Financial) - UK blue chips managed to advance in early deals Monday, rallying from Friday's falls thanks mainly to strength in heavyweight oils and miners after the surge in crude prices which saw U.S. stocks plunge pre-weekend and Asia tumble today.
At 8:12 a.m., the FTSE 100 index was 13.3 points higher at 5,920.1, after closing down 88.5 points at 5,906.8 on Friday.
The FTSE 250 index was 1.1 points lower at 9,833.2.
On Wall Street last Friday, the DJIA plunged 394.64 points, losing more than 3 percent in value, to close at 12,209.81, the biggest drop in more than 15 months in both percentage and points terms.
U.S. stocks tumbled Friday after a pair of alarming economic developments with news of the biggest gain in the government's unemployment reading in more than 20 years arriving in tandem with a more than $11 a barrel leap in oil prices, with WTI approaching the $140 level for the first time.
tf.TFN-Europe_newsdesk@thomson.com jmh/lam COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
At 8:12 a.m., the FTSE 100 index was 13.3 points higher at 5,920.1, after closing down 88.5 points at 5,906.8 on Friday.
The FTSE 250 index was 1.1 points lower at 9,833.2.
On Wall Street last Friday, the DJIA plunged 394.64 points, losing more than 3 percent in value, to close at 12,209.81, the biggest drop in more than 15 months in both percentage and points terms.
U.S. stocks tumbled Friday after a pair of alarming economic developments with news of the biggest gain in the government's unemployment reading in more than 20 years arriving in tandem with a more than $11 a barrel leap in oil prices, with WTI approaching the $140 level for the first time.
tf.TFN-Europe_newsdesk@thomson.com jmh/lam COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.