FTSE close to 4800 barrier
UK investors started the Christmas holidays in good spirits today as the FTSE 100 Index moved within a whisker of the 4800 barrier.
By mid-morning, the Footsie was up 11.7 points at 4799.4 as it chased a fifth consecutive session of gains.
The last time the index of leading shares closed above the 4800 mark was on November 18, although trading volumes were light today as many traders stayed with their families.
The “Santa rally” also helped New York where the Dow Jones Industrial Average added a further 11 points overnight to close at 10827.1 and extend its winning run.
In London, defence and aerospace stocks were weakened by media reports that the US was threatening to withhold military technology from UK firms because of European moves to lift the arms embargo on China.
Jet engine maker Rolls-Royce was second on the losers board, down 4.75p at 247p, while BAE Systems was 1.25p cheaper at 229.5p.
