For those of you wondering why the FTSE100 rose 49bps to-day, here is a clue.
I have included two attachments.
1) shows the basis contribution to the FTSE 100 movement. FTSE 100 had a defensive move today. Note the contribution of BP, Shell, GSK , AZN ( defensive).
The biggie positive today was VOD, but it was offset by RBOS
2) a graphical representation of the above.
Any comments greatfully appreciated about the enclosed.