London shares moved higher in early trading, reacting to overnight gains in the US after the successful IPO of social networking powerhouse LinkedIn.
The FTSE 100 climbed 0.18% at opening to 5,967 points, with BP the main winner - up 2.4% to 458.65p. The UK's gains follow rises in the US where the S&P 500 gained 0.22% to close at 1,344, while the Nasdaq rose 3%. US markets were enthralled by the listing of technology group LinkedIn, with investors snapping up shares in their droves. From an initial price of $45 per share, the stock closed the day up 109% at $93. Elsewhere the news was less favourable, with Asian markets lower and acting as a drag on the UK in early trading.
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