Pitt: London share prices ignore resignation
London share prices pushed higher this morning, as investors appeared to react with indifference to the news of SEC chairman Harvey Pitt's surprise resignation.
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SEC chief Harvey Pitt resigns and Search begins to replace Pitt
Surging Wall Street futures, bouyed by the US election results, determined the mood, according to Reuters. By 0833 GMT, the FTSE 100 benchmark index was up 25.7 points or 0.7% at 4,171.8 points, after touching 4,192.4, its highest intraday level in more than two weeks.
‘Dealers said the rise was largely due to a surge in U.S. stock index futures, after investors cheered strong gains for the Republican party in US elections, as well as anticipation of a cut in US interest rates,’ said Reuters.
Bus and train company FirstGroup was a significant early riser.