FTSE off to a confident start

The FTSE 100 Index has made a flying start to the week after taking a positive lead from Wall Street.

In London, the benchmark FTSE 100 Index rose 45.7 points to 4093.8 in the first hour with financial stocks and companies most exposed to the US market putting on the biggest gains.

Dealers said the mood was buoyant as confidence among businesses and investors picked up amid hopes the US economy was in better shape.

On a quiet day for corporate news, B&Q owner Kingfisher led the Footsie higher as investors anticipated good first quarter results, which are due out later this week.

Shares rose 11.25p to 267p with Kingfisher expected to unveil a strong performance at its DIY chain over Easter.

Among the financials doing well were Provident Financial up 21p to 649.5p, fund manager Amvescap up 11.75p to 382.25p, insurer Legal & General ahead 2.25p to 88.5p and Norwich Union owner Aviva gaining 9.5p to 454.5p.

Lloyds TSB led the banks higher with a 13p boost to 460.5p.

US-linked companies enjoyed the ride, most prominently defence group BAE Systems up 2.5p at 132p and advertising giant WPP gaining 9p to 499p.

Outside the Footsie, logistics firm Christian Salvesen lost 2p to 59p after falling into the red with a £5.5m (€7.6m) annual loss.