Forum Archive Index - May 2000

["malcolm coleman" <malcolmcoleman@hotmail.com>]

LONDON (AFX) - Leading shares modestly extended their earlier gains  
following the midday announcement that the Bank of England's MPC has decided 
to  leave UK interest rates on hold at 6.00 pct after its latest meeting, 
dealers said.  At 12.06 pm, the FTSE 100 index was up 21.2 points at 
6,203.6, below its  peak for the day at 6,231.4, but above the 6,200.4 level 
recorded just ahead of  the rate news.  The broader FTSE indices stayed 
mixed, with the FTSE 250 index modestly  lower -- down 3 points at 6,241.5 
-- reflecting a wealth of corporate news.  Volumes remained moderate, 
depressed this morning by uncertainties over the  rate outcome, with 621.5 
mln shares changing hands in 37,609 transactions.  Although the UK rate news 
has been taken positively, the focus will now  switch back across the 
Atlantic, especially tomorrow's key U.S. non-farm  payrolls, and the 
likelihood of a rate hike following the FOMC meeting, which  starts on May 
16.  However, with S&P futures currently 4.50 points firmer on Globex,  
indications are that the DJIA will recover at least some of yesterday's 
sharp  falls at the restart later this afternoon. jmh/rn
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