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London Shares Finish Up 21.3 Points

June 1, 1988

LONDON (AP) _ Stock prices jumped Wednesday as the market was supported by gains on overseas equity markets.

The Financial Times-Stock Exchange 100-stock index finished 21.3 points, or 1.2 percent, higher at 1,805.7. Volume was a moderate 440.3 million shares, compared with 367.8 million Tuesday.

The Dow Jones industrial average was 11.02 points higher at 2,042.14 when the London session drew to a close.

Dealers said Wall Street’s buoyant activity Tuesday, when the Dow Jones average jumped 74.68 points, continued to support London stocks.

″There isn’t much of a story to the market,″ said Charles Larkham, an analyst at James Capel and Co., adding that the gains in London were ″entirely Wall Street’s influence.″

″If Wall Street has a super bounce, London isn’t about to ignore it,″ Larkham said, explaining that ″it’s even a bit disappointing that the market hasn’t gone higher.

Advances in Tokyo earlier Wednesday also motivated the London market, analysts said.

Market watchers said they were anxious to see if the 100-stock index would remain above the critical 1,800-point barrier over the next few sessions. If so, a new direction might be established for the market, several analysts said.

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