FTSE 100 OPEN: Greek relief finally edges stocks up
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The FTSE 100 has made small gains after opening as investors begin to prefer immediate relief over the new Greek bailout to concerns on the country’s long-term economic health.
The blue-chip index was trading 2.16 points up at 5,930.36 (as of 0817 GMT). Markets showed uncertainty over the course of yesterday’s session as worries remained that the €130 billion (£110 billion) Greek bailout was little more than a sticking plaster for the nation’s bigger problems.
Consumer packaging company Rexam is the strongest gainer in early trading, advancing 4.34% to 401.1p. The firm’s latest results show underlying profits growth accelerated over weaker sales growth.
Royal Bank of Scotland rose by 2.06% to 28.79p, while steel and mining business Evraz gained 1.24% to hit 417.8p. Lloyds Group moved up 1.18% to 36.17p and commodities giant moved 1.08% to 443.1p. (article continues below)
The biggest fallers on the market’s opening were global consumer goods firm Reckitt Benckiser, cruise operator Carnival, multinational airline holding company International Consolidated Airlines, supermarket Tesco and building materials business CRH.
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