The FTSE advanced 40 points in early trading on Tuesday as investors were buoyed by news of US tax cuts, but European debt fears were keeping a lid on sentiment ahead of the Irish budget.
The FTSE was up more than 38 points, or 0.67%, to 5,805 by shortly after 9:30am. Commodity-related stocks bolstered the market, with Antofagasta up 1.44% to £14.78, BP rising 1.3% to 456p, Essar up 1.35% to 561.5p, and Fresnillo up 1.33% to £15.95. On the downside, banks are under pressure ahead of the Irish budget and continuing talk at the EU finance ministers' meeting of 'haircuts' for bondholders in distressed countries. Barclays, Lloyds and Royal Bank of Scotland are all lower. European stocks were also higher. The French Cac 40 index opened at 3,769.64, a gain of 0.54%, wh...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes