FTSE 100 rebounds in early morning trading

  • Story by: Gemma Westacott
  • Magazine: FTAdviser
  • Published Thursday , October 09, 2008

The FTSE 100 Index has rallied in early morning trading today (Thursday 9 October), surging almost 3 per cent to recover some of the previous session's hefty losses.

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This morning's rally has seen the index rise 112.66 points to 4479.35 by 9.25am.

This follows yesterday's disappointing results, when the index closed at down 238.53 points, or 5.2 per cent, at 4366.69 - its lowest close since August 200.

This was despite yesterday's announcements about the government pumping £50bn into troubled banks and the Bank of England's emergency cut in interest rates.

HBoS has emerged as one of the biggest risers in early morning trading today (9 October), up 30.55p, or 26.10 per cent, to 147.55p.

However, Barclays has been one of the biggest fallers, dropping 11.75p, or 4.2 per cent, to 266.50p

HSBC has remained almost flat, dropping just 1.00p to 877.25p, while Lloyds TSB is up 20.25p, or 9.60 per cent, to 230.25p.

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