[July 08, 2011] Footsie buoyed by strong US jobs data [Herald, The (Scotland)] Tweet (Herald, The (Scotland) Via Acquire Media NewsEdge) THE London equity market's blue-chip index bounced higher yesterday, consolidating its position above the key 6000-point level, after the Bank of England kept base rates pegged at a record low of 0.5% and the latest UK manufacturing figures showed output rose at its fastest pace in more than a year in May. A good US jobs report boosted confidence in trading rooms that the world's biggest economy was showing signs of picking up heading into the second-half. The FTSE-100 blue-chip index finished up 51.63 points at 6054.55, its highest closing level since May 5. The barometer of top shares has risen nearly 7% since touching three-month lows 11 days ago, driven mainly by hopes that Greece will avoid defaulting on its considerable debts. Miners, hurt by concerns earlier in the week that China's steps to cool its overheating economy was stifling growth, rebounded strongly following the US jobs data, and as analysts sounded more upbeat on China. Copper producer Antofagasta led the way with strong gains - up 54p to 1491p. Among other leading blue-chips, heavyweight drug sector stock GlaxoSmithKline added 7p to 1366.5p on strong sales to emerging markets. Investment manager Man Group was also near the top of the Foostie winners' board after it cheered the market with a strong quarterly update. The hedge-fund operator said investors poured a net $3.7 bil- lion (pound(s)2.3bn) into its funds in the three months to June 30 in a record quarter for sales. Shares in Man Group finished 8.8p stronger at 255.7p. Satellite broadcaster BSkyB fell amid reports suggesting its proposed takeover by News Corporation will be delayed until inquiries into the News of the World phone hacking scandal are completed. The shares dropped 15p to 812p. Premier Farnell's shares dropped sharply after the electronics components distributor warned that second-quarter sales would miss targets due to slow demand in Europe and North America, while full- year profits will also be marginally lower than expectations. Premier Farnell gave up 49.1p, or 20%, to 195p. Retail chain Dunelm, a mid-cap stock, moved ahead after reporting a surge in sales. The shares rose 45p, or 11%, to 450.5p. (c) 2011 ProQuest Information and Learning Company; All Rights Reserved. [ Back To TMCnet.com's Homepage ]