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April stocks surge boosts investors

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Written by:
08/05/2006

Investors benefited from a rise in oil and mining stocks in April that pushed up the FTSE 100 Index by 2.5%.

The latest StockWatch report from Halifax Financial Services showed that the total return of the FTSE 250 rose 1.8%, while the FTSE All Share gained 2.4%.

During the month the FTSE 250 index broke through the 10,000 barrier for the first time as oil stocks made strong gains, although the index ended the month below this psychologically significant level.

The best performing sectors in April were mining and oil and gas equipment and Services, which both delivered a gain in total shareholder returns of 9%, followed by oil and gas producers at 8%.

John Bearman, head of UK equities, said: “April saw investors enjoy strong gains, with the FTSE All Share delivering an above average gain of 2.4% over the month. Currently, bid speculation along with mining and oil stocks seem to be the main drivers of the markets. Also, a strong demand for raw materials from emerging economies helped push the FTSE 250 index above the 10,000 level for the first time.”

 

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