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The Guardian - UK
The Guardian - UK
Business
Alex Hawkes

JP Morgan numbers give FTSE a push

A 67% increase in first quarter profits for JP Morgan gave the FTSE 100 an extra push on Wednesday, as the blue-chip index reached 6,034, 70 points up on yesterday's close.

JP Morgan's numbers were ahead of Wall Street predictions - but it did say it was stilll seeing big losses on mortgage loans.

It made $5.56bn (£3.4bn) in its first quarter, and its shares rose 1.2% in pre-market trading.

The results were enough to boost today's rise in the FTSE 100 to 70 points. At lunchtime only 9 stocks were down, and 91 up.

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