FTSE lifts in last minute boost

The top share index in the UK was higher on Tuesday as it received a last minute shot of confidence from Europe. By the close of the session the FTSE 100 was higher by 1 per cent, adding over 54 points to reach 5419, its highest finish since 13 December.

Chris Bradshaw
shareprices.com - Wednesday, December 21, 2011

Printable version email to a friend Subscribe to shareprices.com newsfeed

The FTSE peaked just as it closed for the day after it was boosted by news that Spain had seen a reduction in its borrowing costs and data from Germany showed an unexpected improvement in sentiment. At the same time in the UK, the consumer confidence index increased, a move which surprised many and the government announced that it has reached an agreement with union chiefs over pensions.

All of the good news left investors feeling decidedly perkier but volumes were thin as the wind-down for the festive period starts in earnest.

Temporary power supplier Aggreko was once again a strong performer, topping the leaderboard with a gain of 6.6 per cent. The group are still enjoying the benefits of announcing that it will outstrip predicted profits, with its forecast earnings up by 12 per cent.

Drugmakers and pharmaceuticals did not have such a good day with AstraZeneca heading up the fallers with a loss of 1.49 per cent and GlaxoSmithKline just behind in fourth place with a drop of 0.34 per cent. The drop was prompted by three major players in the sector announcing difficulties with product development, whilst AstraZeneca admitted it was having problems with drugs for both depression and cancer.

 

Latest News

Related News

FTSE 100 Latest

ValueChange
5,403.2898.80  % rise