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FTSE up as Standard Chartered gains FTSE up as Standard Chartered gains
(about 4 hours later)
(Open): London's leading shares opened higher on Monday amid positive sentiment after last week's US jobs figures increased the possibility of an interest rate rise in December. (Noon): London's leading shares were slightly higher on Monday morning, despite concern over weak global economic prospects.
Shortly after the start of trading, the FTSE 100 index was up 7.42 points or 0.12% at 6,361.25. By lunchtime, the FTSE 100 index was up 1.17 points or 0.02% at 6,355.
Standard Chartered bank was the biggest gainer, adding 1.2%. Standard Chartered bank was among the biggest gainers, adding 2.2%, with brokers suggesting that its prospects could be rosier than thought.
Intercontinental Hotels Group fared less well. It topped the losers' list of the 100-share index, falling 3.9%. Intercontinental Hotels Group fared less well. It topped the losers' list of the 100-share index, falling 3.8%.
The firm lost ground after denying media reports that it was considering putting itself up for sale or merging with a competitor.The firm lost ground after denying media reports that it was considering putting itself up for sale or merging with a competitor.
On the currency markets, the pound rose 0.17% against the dollar to $1.5074, but fell 0.11% against the euro to €1.3997. On the currency markets, the pound rose 0.42% against the dollar to $1.5112, but was little moved against the euro at €1.4008.