Vodafone leads blue-chip rally that recovers losses

MOBILE phone giant Vodafone surged to its highest close since August yesterday as blue-chip stocks powered a rally in the City.

Fri, 25 Oct, 2002 - 01:00

96.8 points to end the day at 4103.7, recovering almost all of yesterday’s losses.

Traders said Vodafone's gains the company ended up 7.5p at 106p came after signs that it could finally prise control of French business Cegetel.

Rival mmO2 also rose, up 2.5p at 50.5p, while BT climbed 4.5p to 183p, and Cable & Wireless ended the day up 2p at 140p.

Among the financial stocks, fund manager Amvescap soared 16%, ending the day up 53.5p at 384p, while insurer Aviva ended ahead 30p at 484.5p, and Friends Provident, finished up 7.75p at 130.25p.

Of the banks, Barclays rose 8p to 443p, Lloyds TSB climbed 6p to 565p, HBOS surged 21.5p to 715p and HSBC rose 6p to 721p.

Drugs giant AstraZeneca climbed 69p to £23.63, while advertising giant WPP lost 15p to end the day at 435p.

B&Q-to-Comet group Kingfisher rose 10.75p to 227p, Sainsbury's rose 13p to 285.5p and Tesco climbed 7p to 207p, while Big Food leapt 14p to 38p.

In the FTSE 100, the biggest risers were Amvescap, up 53.5p at 384p, Vodafone, up 7.5p at 106p, Invensys, up 4.5p at 65.5p, and Rentokil, ahead 15p at 227p.

The heaviest fallers were WPP, down 15p at 435p, Reuters, off 3.75p at 168p, Standard Chartered, down 11.5p at 735p, and Reckitt Benckiser, off 18p at £11.59.