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Footsie rallies on telecom advance.
(From Newsletter)
TELECOMS and drugs stocks helped the FTSE 100 Index edge further beyond the key 5100 barrier yesterday.
Progress by the likes of O2 and AstraZeneca contributed to the Footsie ending the session 4.1 points higher at 5113.2, the best performance for the first half of the year since 1999.
The extension of its recent rally left the top flight 300 points higher than its opening mark at the start of January.
Rumours that O2 might be in the sights of venture capitalists or overseas telecoms groups made it the top blue-chip performer with a 4p rise to 136.25p.
BT Group was also in the black, adding 1.75p to 230p, although Vodafone lost earlier gains to slip a penny to 136p.
Progress by the market came in spite of official data which showed the UK economy growing at a slower pace than first thought.
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