Investors buoyed by recovery hopes
A fresh boost to recovery hopes has cheered investors and helped the FTSE 100 Index move higher.
Comments from the International Monetary Fund that the world economy was reviving more quickly than expected helped the top flight add 27.8 points to 5161.7 in early trading.
The forecasts - which included a much stronger prediction of UK growth in 2010 - were another lift to sentiment after the Footsie's best quarterly performance in 25 years.
With corporate news in short supply a mix of broker upgrades and bid rumours continued to drive London's strongest risers.
Miner Vedanta Resources led the market higher, up 104p to 2006p or 5% after Morgan Stanley said the shares could potentially double.
Another beneficiary of positive broker comment was heating and plumbing firm Wolseley, 56p better at 1563p after Citi upgraded it to buy.
Meanwhile insurer Legal & General cheered 3.75p to 91.55p as speculation of takeover interest, possibly from National Australia Bank, refused to die down.
Among the fallers, BAE Systems lost 6.7p to 342.5p or 2% on reports the Serious Fraud Office could launch a prosecution over claims that the defence giant paid bribes to win contracts.
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