Stock Market Update - Tues 19May09

The FTSE Closes Up - But Off its Session Highs

The headline shares closed up today, but off highs, as strong commercial property issues and the miners helping offset Marks & Spencer, who posted news of tumbling profits and a third cut off the dividend. Wall Street opened down, but soon turned up again, recovering nicely. The FTSE 100 closed up nearly 36 points at 4,482, whilst the FTSE 250 closed up 121 points at 7,698, and for those that are interested the FTSE Small Caps cl;osed up nearly 38 points at 2,279.

Over the pond, US stocks were flat in morning trade, recovering early losses, as data showed new housing starts and permits falling to record lows in April. House building activity in the US is now at its lowest level on record. By the time London closed, the DJIA was up just 44 points to 8,508, whilst the S&P 500 was up about 2 1/2 points at 912, and the Nasdaq just about even at 1,732.