FTSE rebounds after euro hits four-year low

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The FTSE 100 edged higher in early afternoon trading Monday on optimism BP is beginning to take control of the oil spill in the Gulf of Mexico, but the euro continues to languish.

Shortly after 2pm, London's leading index was up 43 points, or 0.81%, at 5,305, with BP up 2.57% to 543.8p. Standard Chartered, up 77p, or almost 5%, to £16.99, is bucking the general downward trend experienced by banks recently and leads the winners. Its Kenyan subsidiary announced a 39% rise in Q1 pre-tax profits, while the bank has also been lifted by talk of a possible share listing in China to follow a similar move in India. Man Group, fresh from agreeing a $1.6bn deal to acquire rival GLG Partners, has slumped almost 9% to 202p. The euro began the week by hitting a four-ye...

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