FTSE 100 rallies on building permits

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Source: Dukascopy Bank
FTSE 100 index rallied on Tuesday as Spanish successfully auctioned bonds and US posted higher than expected number of building permits. Moreover data showed UK inflation unexpectedly surged in March sending pound higher versus greenback. Banks led the gains as Spanish yields declined. Barclays added 3.9% and Lloyds Banking gained 2.9%. On the downside store chains Burberry and Marks & Spencer shed 5% and 3.9% respectively. At the moment of writing FTSE 100 trades 1.13% or 63.95 points up at 5,730.43.

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Tue, 17 Apr 2012 19:47:37 GMT

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