Shares in logistics group Exel hit their highest level since the spring of 2002, up 12p to 897.5p, as investors speculated that it could be the next blue-chip stock
to attract takeover interest.
But analysts cheered the result, to send the blue-chip stock
more than 2% higher in early trading
Oil giant BP was another blue-chip stock
to make gains after upgrading its accessible reserves by 23 million barrels.
Airports operator BAA was also heavily traded after a dramatic session for the blue-chip stock
At one stage the Footsie had plummeted 7pc to 4,219.8, with every blue-chip stock
plunging into the red.
The local stock barometer rallied on Tuesday, driven mostly by local investors who loaded up on blue-chip stocks
Regina Capital Development Corporation Managing Director Luis Limlingan noted that blue-chip stocks
were heavily beaten from days of net foreign selling at investors have begun to pick them up because of their cheaper valuation.
LAHORE -- Pakistan Stock Exchange edged higher on Monday, the first day of the new week, with support of blue-chip stocks
. OGDC, MCB, ENGRO, POL, and PSO remained top contributors to the 100-share index, adding 181 points.
The brighter performance for the FTSE 100 comes after PS27 billion was wiped off blue-chip stocks
on Friday when US plans to hike tariffs on steel and aluminium prompted fears of a global trade war.
The market also remained under pressure due to continued correction in blue-chip stocks
across the sectors as well as the net selling recorded by the foreign investors on Thursday.
Growing volumes in DGCX Indian SSF contracts following the launch of an additional 44 blue-chip stocks
is a direct result of the Exchange meeting the needs of global participants to access Indian markets in an efficient and secure manner.
However, the strength of the UK currency heaped more misery on blue-chip stocks
, with the FTSE 100 Index dropping to its lowest level since April, before closing down 79.92 points to 7,215.47.