(1888PressRelease)
May 20, 2008 - London (Shakespearefinance) - Closing up at 6348.3 with a 52.4 point rise, the FTSE 100 Index ended on a four month high figure. During the present week, the index gained by 1.6%, yet the figure is still less by 2.4% for the whole year. It assumes importance against the background of slump down in confidence of the U.S. Consumers, which touched its lowest point in the past 28 years.
"We had the lowest consumer confidence figures in the U.S. since the 1980s so that's really what turns the U.S. negative. No doubt that's going to put a cap on UK stocks as well going into next week," the derivatives' head, Martin Slaney, reported at the GFT Global Markets.
Heading the list of profit makers, the British Energy shares climbed up to 715.5 pence registering a phenomenal growth of 5.2 percent. Encouraged by the talks of the proposed take over bid by the BE, the London Stock Exchange took a healthy plunge ahead by 5.1 percent. Apart from this the oil shares contributed about 26 points to the FTSE index, because the crude oil prices ( Clc1) touched the $128 figure.
Carried by the encouraging economic waves, the BE gained 1.5 percent, Royal Dutch Shell went up by 2.8 percent, while the Tullow Oil garnered a 3.2 percent growth. According to Morgan Stanley, it is advisable for the investors to invest in the mining and oil shares, because these sectors performed really commendably at 66% and 30% respectively during the past year.
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