FTSE gains ground to start the week

The FTSE 100 closed up 1.47 per cent to 5611.20 as traders hope the tide of last week's forlorn performance is changing. Honours of the day went to defence specialist Cobham – rising 6.12 per cent. Vodafone was up 5.26 per cent, John Wood rose 5.16 per cent, and BG Group rose 4.48 per cent, while International Power was up 3.97 per cent. ITV continued its downward fall – slipping 5.68 per cent – while Friends Provident slid 3.58 per cent. Wolseley was down 2.9 per cent, Lonmin dropped 2.46 per cent and London Stock Exchange Group fell 2.23 per cent. Outside the FTSE 100, Southern Cross Healthcare fell 58.39 per cent on news it would miss targets as local authority funding stalled from central government and Trinity Mirror fell 29.37 per cent. “The FTSE 100 seems intent on giving up almost all of its 17.7 per cent gains made... [read full story]