Bargain-Hunters Boost Footsie in Thin Trading

Summary

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AFTER another brutal week on the stock market, punch-drunk investors were today grateful for a chance to regroup and find time to contemplate the future.

Turnover slowed to a trickle, with sentiment receiving a mild boost from attempts at a rally in the Far East this morning. This enabled share prices to open sharply higher on a mixture of bargain- hunting and short closing of positions despite another post- election sell-off in New York overnight. The FTSE 100 index rose 81.02 to 4353.43.

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Extract

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Bargain-Hunters Boost Footsie in Thin Trading

While yesterday's dramatic cut of 1.5 percentage points in interest rates to 3% looked good on paper, the benefits may not be that easy to realise. It still remains to be see...

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