Credit concerns sidelined by markets

Wall Street opened sharply higher today as investors went bargain-hunting, whilst European stocks recovered from a shaky start to close with moderate gains.

London stocks moved from red to black today as solid corporate results plus the strong start on Wall Street helped the index to a close of 6,132, a 30-point gain.

Strong sales over the past three months particularly at its Premier Inn chain made leisure stock Whitbread the day's biggest gainer. However, the company also announced that it is to delay a cash return due to current conditions in the credit markets.

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