London shares closed up, housebuilders advance; NY flattens out on Wal-Mart news |
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Tue, 23 Oct 2007 16:42
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LONDON (Thomson Financial) - Leading shares closed up, off highs, as UK miners and housebuilders continued to buoy the market, however investors were given a late scare by a downturn in US stocks on news from Wal-Mart.By the close, the FTSE 100 index was up 54.7 points at 6,514.0, off a high of 6,562.7, with all the broader FTSE indices also higher.Volume was firm with 2.709 bln shares changing hands in 564,611 deals.On Wall Street, US stocks turned mixed after Wal-Mart Stores offered up capital expenditure growth forecasts that came in above expectations. Some analysts have said that the company needs to cut back on store expansion and focus instead on improving its merchandising.At London's close, the Dow Jones industrial average was down 0.80 to 13,566.20, off a high of 13,656.9.Broader indexes were just higher. The Standard & Poor's index added 0.35 to 1,506.70, while the Nasdaq composite index was up 9.83 at 2,763.76.In London, blue-chip housebuilders helped buoy the market benefiting from yesterday's 6.7 pct rise in the US Homebuilders Index, which was led by Beazer Homes.Persimmon, who announced share buy-backs today, took on 39 pence to 988, while Barratt Development added 18-1/2 pence at 672, and Taylor Wimpey gained 3 pence to 243.tf.TFN-Europe_newsdesk@thomson.comjb1/jfrCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Western Union comes to Wal-Mart Canada 