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Article: Optimists boost fabulous Footsie.
- Article from:
- Daily Mail (London)
- Article date:
- May 3, 2008
CopyrightCOPYRIGHT 2008 Solo Syndication Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Geoff Foster
BLUE chips ended the week with a flourish amid growing optimism that theworld's biggest economy is in much better shape than many bearish analyststhink.
Hard on the heels of Wednesday's quarter point cut in American interest ratesto 2pc, employment news cheered the market.
The US economy lost only 20,000 jobs in April - a big improvement on the 81,000March figure - and the unemployment rate unexpectedly fell to 5pc from 5.1pc.All of this woke fund managers from their deep pre-Bank Holiday slumber.
They piled into equities on both sides of the Atlantic, sending Wall Streetsoaring 122 points at the outset and London ...