		<div class="wpcnt">
			<div class="wpa">
				<span class="wpa-about">Advertisements</span>
				<div class="u top_amp">
							<amp-ad width="300" height="265"
		 type="pubmine"
		 data-siteid="111265417"
		 data-section="2">
		</amp-ad>
				</div>
			</div>
		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/12/buoyant-banks-lead-ftse-higher.jpg"><img class="alignnone size-full" title="The FTSE 100 Index rose 19.3 points to 5813.8 at midday" src="http://londonglossy.com/wp-content/uploads/2010/12/min-buoyant-banks-lead-ftse-higher.jpg" alt="The FTSE 100 Index rose 19.3 points to 5813.8 at midday"/></a></p>
<p>Banks have led the London market higher despite falls for some stocks on disappointing earnings updates.</p>
<p>The Footsie rose 19.3 points to 5813.8 after starting on the front foot thanks to overnight gains on Asia.</p>
<p>There was little reaction to the Bank of England&#8217;s widely expected decision to leave interest rates unchanged at 0.5% and quantitative easing at £200 billion.</p>
<p>Wall Street was on course to open in positive territory, according to futures trading, although all eyes will be on the latest weekly jobless data.</p>
<p>In London, banks littered the risers board despite a fall for Asian-focused Standard Chartered after its trading update was overshadowed by news that its net interest margin had eased and that cost growth was likely to outpace revenue growth. Shares in the bank slipped 3% or 64.5p to 1813.5p despite saying it was on track to achieve record results in 2010.</p>
<p>Its blue chip rivals posted steady share gains, with Barclays up 7.3p to 271.5p and part-nationalised Royal Bank of Scotland up 1.3p to 42.3p. Investor attentions were also focused on the latest house price data from Halifax. The lending giant said property prices fell 0.1% during November, but added there were signs the housing market was stabilising &#8211; providing a boost to housebuilding stocks.</p>
<p>Bellway rose 6% or 40.5p to 656.5p, Persimmon lifted 17.6p to 427.9 and Barratt Developments added 2.2p to 89p in the FTSE 250. The sector had already been buoyed by good news earlier this week from Bellway, which said buyer confidence was returning after the spending review.</p>
<p>Equitpment hire group Ashstead was top of the FTSE 250 risers after it raised its full-year profit forecast as its US profits jumped higher. The firm&#8217;s shares rose 8%, up 11.3p to 155p, after it said full-year results would beat its own expectations following a 41% hike in interim profits.</p>
<p>Elsewhere, games and music retailer HMV slumped 23% or 10.3p to 33.5p after reporting widening half-year losses and slashing its dividend. It also said trading had been hit by the snow at the start of its all-important Christmas trading period.</p>
<p>Imperial Leather maker PZ Cussons was also in the red &#8211; down 8.2p to 384.8p &#8211; after an update revealing profits marginally up year-on-year and revenues broadly flat. And Moss Bros was enjoying better fortunes as shares rose 2% thanks to news of a 8.3% rise in recent like-for-like sales. The menswear retailer saw shares lift 0.5p to 24.5p.</p>
			<div style="padding-bottom:15px;" class="wordads-tag" data-slot-type="belowpost">
				<div id="atatags-dynamic-belowpost-69e31616786e1">
					<script type="text/javascript">
						window.getAdSnippetCallback = function () {
							if ( false === ( window.isWatlV1 ?? false ) ) {
								// Use Aditude scripts.
								window.tudeMappings = window.tudeMappings || [];
								window.tudeMappings.push( {
									divId: 'atatags-dynamic-belowpost-69e31616786e1',
									format: 'belowpost',
								} );
							}
						}

						if ( document.readyState === 'loading' ) {
							document.addEventListener( 'DOMContentLoaded', window.getAdSnippetCallback );
						} else {
							window.getAdSnippetCallback();
						}
					</script>
				</div>
			</div>
Discover more from London Glossy Post
Subscribe to get the latest posts sent to your email.
