43761 points registering a daily gain of 0

While the British economy lags economic - the country posted a negative growth in the third quarter-, the London stock market index is among the first in Europe to have regained its levels of before the bankruptcy of Lehman Brothers. Yesterday, for its fifth meeting on consecutive increase, the Futsee completed at 5.437,61 points, registering a daily gain of 0.65, representing an increase of 22.6 since the beginning of the year. September 15, 2008, the index had fallen by 5.416 points to 5.204 points.

The Futsee needs its advance to the spectacular rise of mining values. On the ten largest increases of the year, eight are part of this sector, including Kazakhmys ( 463), Vedanta Resource (326), Xstrata ( 205) or even Rio Tinto ( 176). Very cyclical, these securities of non-British companies fully benefited from the prospects for recovery in the global economy, including emerging countries.

The risk is less

So far, among major Western financial markets, only the Madrid stock market was already erased the losses related to the bankruptcy of Lehman Brothers. Yesterday, the Ibex 35 index stood at 12.035 points, representing an annual gain of about 31 (read below). The other indices, the CAC 40, the German DAX, Swiss and Dutch indices, still have some way to go, despite the fall of the volatility. It is settled on the levels that prevailed in the summer 2008: the VDAX, which measures the volatility on the actions listed in Frankfurt, is changing to 20 points, after a peak of 74 at the height of the financial turbulence.

The situation is the same in the United States: the aversion to risk, measured by the VIX (volatility of the shares of the S & P 500), now is also lower than in August 2008, less than 20 points. Unveiled yesterday by State Street Investor confidence index confirms the improvement of the feeling in the markets. "The recovery of the overall index of confidence in December is largely due to the improvement of the confidence in Asia, where the increase of appetite for risk has brought regional index to its highest level for eight months," says Ken Froot. The overall index took 3.1 points, to 103.9 points, in Asia it grew by 6.3 points, at 97.5 points, while in North America-Amé rising is lighter, 0.9 point to 103.1 points. Only Europe crumbles to 104.6 points. "With three of the four indexes above the neutral level of 100, the institutions continue to increase their positions in assets to high risk, but clearly more slow in beginning of the year", said the study of State Street. And to add that future signals of recovery and fiscal and monetary policies exit strategies will be necessary to more significant reallocations catalysts to assets at risk in 2010.

A Wall Street, the Standard and Poor's 500 index has dwindled yesterday at the Bell by 0.14, to 1.126,20 points, while it had closed at 1.251 points just before the collapse of Lehman Brothers. The Dow Jones industrial average remained almost stable at 10.545,41 points and the Nasdaq Composite conceded 0.12, to 2.288,40 points. Investors were aware of several economic statistics. They were slightly disappointed by the indicator of the price of the houses, but consumer confidence measured by the Conference Board has proved better than expected. Oil values have weakened the trend: Exxon and Chevron have finished on respective declines of 0.35 and 0.72. At the top of the Dow Jones, Walt Disney offered 1.47, followed by consumer values. Procter & Gamble advanced 0.54 and Johnson & Johnson is maintained. Fannie Mae has lost 1.57, despite the announcement of a 26 decline in November of its portfolio of assets related to residential mortgages.