FTSE 100 reaches 2009 high

| October 12, 2009 | 0 Comments
FTSE 100 reaches 2009 high

The FTSE 100 Index rose to 5231.16 today - a new record for the year to date.

London’s FTSE responded to strong gains seen on the Dow Jones Industrial Average last Friday, which hit a 12-month high.

Since its low point in March this year, the FTSE 100 Index has risen around 50% with companies such as Marks & Spencer and Barclays seeing gains of 60% and 600% respectively during the period.

Meanwhile, today Vodafone was a top blue chip riser on the FTSE after gaining 0.9%, due to news of a price battle in the Indian mobile telecoms market.

However, the pound was not as strong and fell to a low of 1.069 against the euro - a level not seen for more than six months.

The pound seems to have lost its appeal as investors snub the currency due to historically low interest rates and high levels of public debt.

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