Monday's Trading: British Shares Rise Strongly on Revised Quarterly GDP

The benchmark Financial Times-Stock Exchange 100 Share Index rose 25.9 points to 3535.7, its highest level since February 1994, as the GDP revision supported the growing belief that interest rates will remain stable for the time being. Pharmaceuticals group Smith & Nephew also rose on renewed sp...

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Bibliographic Details
Published inWall Street journal. Europe
Main Author This article was prepared by Max Berley, Edna Fernandes, Ellen Thalman and Vito Racanelli Of the AP-Dow Jones News Service
Format Newspaper Article
LanguageEnglish
Published Brussels Dow Jones & Company Inc 22.08.1995
EditionEurope
Subjects
Breweries
Consumer Price Index
Corporate profits
Interest rates
Meetings
Pharmaceuticals
Retail stores
Speculation
Stock exchanges
Stock prices
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Summary:The benchmark Financial Times-Stock Exchange 100 Share Index rose 25.9 points to 3535.7, its highest level since February 1994, as the GDP revision supported the growing belief that interest rates will remain stable for the time being. Pharmaceuticals group Smith & Nephew also rose on renewed speculation that it will become a bid target following last week's pharmaceuticals deals. Its shares rose 2.6%, or five pence, to 196.5 pence. Declining stocks include Eurotunnel, which fell 28 pence to 138 pence. The fall was triggered by the company's disappointing first-half revenue figures released earlier this month and also on word last week that a revised forecast for full-year results will be announced in October. The company refused to comment on market speculation that annual revenue won't be enough to fund interest payments on its huge debt.
ISSN:0921-9986