FTSE ends session with gains

An upbeat start to trading in New York helped the London market score a second consecutive session of gains today on a quiet day for corporate news.

The FTSE 100 Index moved a modest 8.5 points higher to 4358.7 by the end of the day, gaining further ground after yesterday’s 48-point surge.

London’s leading shares took their lead from New York, where a drop in US consumer prices and a decline in oil prices allowed investors to put aside worries about inflation and sent US stocks modestly higher.

In London, media stocks were among the highest top flight climbers, with Reuters continuing yesterday’s gains with a 7.5p rise to 305.5p.

British Airways overcame the prospect of a Bank Holiday strike to post back-to-back gains, lifting 5p to 221.25p.

The highest climbers in the Footsie today were Hilton up 7.75p to 257.75p, Schroders NV adding 15p to 545p, Reuters up 7.5p to 305.5p and Schroders adding 14p to 581.5p.

The heaviest fallers were Capita off 7p to 303p, BG Group down 7p to 339.75p, Rexam off 6p to 403.25p and Shell down 5.75p to 393.5p.