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FTSE 100 Enjoys Small Friday Recovery

Tue, 1st Sep 2015

Following a week of difficult trading, the FTSE 100 ended on a high note, enjoying a brief recovery after the worst volatility since the euro-zone crisis earlier in the year.

The FTSE 100 made a 60 point recovery on Friday, closing up by 55.91 points. This was a gain of 0.9 percent, and put the blue-chip index at 6,247.94 at the end of the day. These are the first signs that the economy may be slowly returning to normal.The Chinese stock market, whose crash had caused the global economy to struggle, rose by 4.9 percent on Friday, marking the second day that it had spent in positive territory. While the Shanghai Composite has a long way to go to recover to its June peak, the recent recovery is a source of optimism.The top performer in the FTSE 100 was Inmarsat, who saw their share price climb massively following the launch of its 3rd Global Xpress satellite, which will form a part of its next-gen broadband network. The launch of the satellite had been significantly delayed, following the explosion of another rocket at the launch site, but now that it is off the ground, investors are visibly relieved, putting the company’s gains for the year to date at 40 percent.Oil companies also profited, with BG group gaining 32.8p and Shell gaining 47p as the price of crude oil recovered. Commodity firms, which are heavily exposed to the Chinese economy, also put in a strong performance on Friday.
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