LONDON REPORT: FTSE: 4,381.26 (+81.20) Mid-250: 6,151.03 (+207.86) Small Cap: 1,777.98 (+25.68)INVESTORS SHRUGGED off fresh economic gloom yesterday as the FTSE 100 built on yesterday's 6 per cent surge with further gains.
The advances came despite yet more downbeat retail sales figures and manufacturing output falling by a worse-than-expected 1.4 per cent fall during October - extending the worst run for the sector since 1980.
But there were grounds for optimism after slightly better than expected housing sales figures from the US, while the Bank of Canada also slashed interest rates by 0.75%.
Leading the charge was insurer Legal General, up almost 12 per cent or 10.1p to 85.1p, despite worries from analysts over the potential impact of corporate bond defaults on the insurance sector.
It was closely followed by bus and rail group Stagecoach, which gained 13.6p to 128.4p, as the firm's chairman bought 10,000 shares in the business.
Other prominent risers included Beefeater and Premier Inns leisure group Whitbread, as shares continued to feel the benefit of a robust trading update yesterday. Shares advanced 68p to 885.5p, more than per cent.
Among the fallers, British Airwaysshed 3.3p to 169.2p after an industry body predicted $5 billion losses for airlines this year.
But the leading Footsie casualty was Reckitt Benckiser, which shed 165p to 2615p, a fall of more than 6 per cent.
Rolls-Royce- another hit by a recent downgrade from Morgan Stanley - also fell, shedding 6.25p to 296.5p.
In the FTSE 250 Index, Johnston Pressreversed recent losses with a gain of 12 per cent, or 1.22p to 10p, and DSG Internationallifted 1.75p to 12.75p.
Bakery firm Greggswas another riser, up 96p to 3302p, after it outlined expansion plans and said like-for-like sales growth remained in line with an update in early October.
But Carphone Warehouseshares remained under pressure after falling 4 per cent yesterday in the wake of its co-founder's decision to quit because of his failure to declare the use of shares as backing against personal loans. Shares were down another 4p to 85p.
The four biggest Footsie risers were Legal Generalup 10.1p at 85.1p, Stagecoach Groupup 13.6p at 128.4p, Invensysup 15.9p at 155.3p and Wolseleyahead 35.25p at 382.25. - (PA)
