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250 reasons to celebrate.

INVESTORS were celebrating yesterday after the FTSE 250 Index broke through the 10,000 barrier for the first time.

The index contains the largest 250 companies in the UK after the more commonly quoted top 100.

Busy buying activity, high oil and metal prices and stronger economic growth have pushed up both index limits and helped the FTSE 250 to hit 10,013.7. It later settled to close at 9997.6, up 30.7.

Analysts argue another factor is the broader spectrum of companies in the 250 index as more than half of the Footsie 100 is dominated by oil firms, banks and telecoms alone.

In addition, while the FTSE 100 is affected by what happens overseas, especially the US, the 250 remains largely unmoved.

A number of 250 firms are the subject of ongoing buy-out battles, pushing their share prices higher.

The London Stock Exchange, which has rejected successive takeover bids, has been one of the best performers with value of its stock doubling this year.
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Title Annotation:Business
Publication:Daily Record (Glasgow, Scotland)
Date:Apr 27, 2006
Words:168
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