London shares close higher as oil, property strength offset jittery Wall St |
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Wed, 07 Mar 2007 17:59
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LONDON (AFX) - Leading shares ended a volatile session higher, boosted by a late spike in oil heavyweights and strength in property stocks but gains were capped by an uncertain start on Wall Street, dealers said.By the close, the FTSE 100 was 18.0 points firmer at 6,156.5, having risen from a morning low of 6,106.1, and mirroring a positive wider market.Volume was again above average with 3.0 bln shares changing hands in 534,521 deals.Meanwhile, Wall Street was lower in early deals as cautious traders paused for breath after yesterday's rebound following the recent sell-off in global equities'The main concern continues to be whether the worst of the market slides are behind us and if the indices can build on yesterday's gains,' Geoff Langham, head of trading at CMC Markets said.By London's close, the DJIA was down 23.40 at 12,184.20.Back in London, Resolution was 21 higher at 644 after the insurance group announced the surprise departure of its chief executive, Paul Thompson, and said talks about a possible bid for the company were continuing.In a brief statement, Resolution said it 'jointly agreed' with Thompson that he should step down immediately, and added his departure would help 'prepare the company for the next stage of its development'.In November, Resolution said it was discussing a range of possible deals, including a sale of the group -- with the names in the frame being Prudential, Standard Life, and Lloyds TSB's Scottish Widows.newsdesk@afxnews.comtfn-lon-rn/tcCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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London shares close above key 6,300 level on energy, banks gains 