Stock Market News
London close: Footsie ends year 22% higher
31-12-2009 12:48
More gains for FTSE 100 on the last day of 2009 capped a year of strong recovery from the ravages of the economic crisis.
The leading share index posted a 22% rise - its best yearly performance since 1997 -as shares recovered from the sharp declines that began as the financial crisis intensified towards the end of 2008.
The leading share index rallied sharply from the troughs around 3,500 points it was occupying in mid-March ahead of any real signs that economic recovery was on its way. It has continued edging higher since breaking through the 5,000 point barrier in September.
Amid thin trading, property stocks were among the risers, with the big four in the FTSE 100, Land Securities, British Land, Hammerson and Liberty International finishing in the top 10.
Miners and insurers were also wanted. South American copper group Antofagasta and silver miner Fresnillo posted gains as did the insurers Standard Life and Legal & General.
In economic news, Nationwide's latest survey showed house prices rose by 0.4% in December, taking the total rise for the year to 5.9%. It is the eighth month running prices have risen.
Brighter economic prospects spurred lenders to increase the availability of secured loans to householders in the three months to early December, a trend that should continue in the first quarter of 2010, according to a Bank of England survey.
Germany and France, which unlike the UK have already officially emerged from recession, have also seen their markets gain by more than a fifth over the full year.
Elsewhere in the world, Australia, which has already become the first major industrialised country to lift interest rates since the onset of the financial crisis, saw its stock market rise by 31%.
In Asia, continued strong growth in China was the main story. Hong Kong's Hang Seng Index was up by 52% over the year, while China's Shanghai Composite Index soared by 80%. Japan's Nikkei was up by 19% over the year.
The US - still the world's biggest economy - was at the heart of the global recovery. The S&P 500 index of shares has risen by some 25% since the beginning of the year, with stimulus measures enacted in the wake of the economic crisis helping to improve sentiment.
FTSE 100 - Risers
Land Securities Group (LAND) 685.00p +4.26%
Hammerson (HMSO) 424.00p +3.97%
Legal & General Group (LGEN) 80.60p +3.53%
Standard Life (SL.) 216.50p +3.49%
British Land Co (BLND) 480.00p +3.25%
FTSE 100 - Fallers
BT Group (BT.A) 135.00p -1.60%
Compass Group (CPG) 445.20p -1.55%
United Utilities Group (UU.) 495.70p -1.45%
Sage Group (SGE) 220.00p -0.95%
SABMiller (SAB) 1,826.00p -0.71%
FTSE 250 - Risers
St. Modwen Properties (SMP) 194.00p +7.78%
Bellway (BWY) 818.00p +6.23%
Bovis Homes Group (BVS) 434.70p +5.54%
Ashtead Group (AHT) 81.20p +5.05%
Travis Perkins (TPK) 852.00p +3.97%
FTSE 250 - Fallers
Dunelm Group (DNLM) 380.00p -7.54%
Melrose Resources (MRS) 272.50p -6.03%
Paragon Group Of Companies (PAG) 131.00p -5.07%
Fenner (FENR) 167.50p -4.29%
WH Smith (SMWH) 494.00p -3.52%
The leading share index posted a 22% rise - its best yearly performance since 1997 -as shares recovered from the sharp declines that began as the financial crisis intensified towards the end of 2008.
The leading share index rallied sharply from the troughs around 3,500 points it was occupying in mid-March ahead of any real signs that economic recovery was on its way. It has continued edging higher since breaking through the 5,000 point barrier in September.
Amid thin trading, property stocks were among the risers, with the big four in the FTSE 100, Land Securities, British Land, Hammerson and Liberty International finishing in the top 10.
Miners and insurers were also wanted. South American copper group Antofagasta and silver miner Fresnillo posted gains as did the insurers Standard Life and Legal & General.
In economic news, Nationwide's latest survey showed house prices rose by 0.4% in December, taking the total rise for the year to 5.9%. It is the eighth month running prices have risen.
Brighter economic prospects spurred lenders to increase the availability of secured loans to householders in the three months to early December, a trend that should continue in the first quarter of 2010, according to a Bank of England survey.
Germany and France, which unlike the UK have already officially emerged from recession, have also seen their markets gain by more than a fifth over the full year.
Elsewhere in the world, Australia, which has already become the first major industrialised country to lift interest rates since the onset of the financial crisis, saw its stock market rise by 31%.
In Asia, continued strong growth in China was the main story. Hong Kong's Hang Seng Index was up by 52% over the year, while China's Shanghai Composite Index soared by 80%. Japan's Nikkei was up by 19% over the year.
The US - still the world's biggest economy - was at the heart of the global recovery. The S&P 500 index of shares has risen by some 25% since the beginning of the year, with stimulus measures enacted in the wake of the economic crisis helping to improve sentiment.
FTSE 100 - Risers
Land Securities Group (LAND) 685.00p +4.26%
Hammerson (HMSO) 424.00p +3.97%
Legal & General Group (LGEN) 80.60p +3.53%
Standard Life (SL.) 216.50p +3.49%
British Land Co (BLND) 480.00p +3.25%
FTSE 100 - Fallers
BT Group (BT.A) 135.00p -1.60%
Compass Group (CPG) 445.20p -1.55%
United Utilities Group (UU.) 495.70p -1.45%
Sage Group (SGE) 220.00p -0.95%
SABMiller (SAB) 1,826.00p -0.71%
FTSE 250 - Risers
St. Modwen Properties (SMP) 194.00p +7.78%
Bellway (BWY) 818.00p +6.23%
Bovis Homes Group (BVS) 434.70p +5.54%
Ashtead Group (AHT) 81.20p +5.05%
Travis Perkins (TPK) 852.00p +3.97%
FTSE 250 - Fallers
Dunelm Group (DNLM) 380.00p -7.54%
Melrose Resources (MRS) 272.50p -6.03%
Paragon Group Of Companies (PAG) 131.00p -5.07%
Fenner (FENR) 167.50p -4.29%
WH Smith (SMWH) 494.00p -3.52%
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