US vote buoys exchanges
Published: 4 November 2008
By MoneyhighStreet Staff Leave a Comment
Updated: 30 November -0001
Shares marked their sixth consecutive day of gains in London today.
Trading was subdued due to the US presidential election, however.
Democratic nominee Barack Obama is likely to beat out Republican rival John McCain, polls have suggested.
At the close, the FTSE 100 was 4.29 per cent up at 4633.76.
These gains were mirrored by the US bourses, as voting got under way in earnest.
The Dow Jones was up by 2.82 per cent at 9582.91 points by 16:34 GMT, while the S&P 500 gained 3.49 per cent to break the psychologically-important 1000 point barrier.
Speaking to Reuters, Bernard McAlinden, strategist at NCB Stockbrokers in Dublin, commented: "Investors are marking time ahead of the elections, gearing up for all the drama. A clear mandate either way is the important thing for equity markets.
"There is the implicit notion that things were not right anyway, and my impression is that people want someone with the energy to change things, including markets."