FTSE 100 Gains As Kwarteng Brings Forward Debt Plan
(RTTNews) - U.K. shares rose sharply on Tuesday, building on gains from the previous session after the government made a dramatic U-turn on one of the tax cuts that contributed to extreme bond market turmoil last week.
The pound hit a two-week high as Chancellor Kwasi Kwarteng prepares to bring forward the publication of his debt-reduction plans.
The benchmark FTSE 100 climbed 118 points, or 1.7 percent, to 7,027 after rising 0.2 percent on Monday.
Low-cost airline Wizz Air Holdings rallied 3.6 percent after data revealed a 51.5 percent jump in passenger traffic and 12.7 percent lower CO2 emissions in the month of September 2022.
Bakery chain Greggs jumped almost 11 percent after it reported a 14.6 percent increase in third-quarter sales.
Legal & General Group added 5 percent as the financial services and asset management firm reassured investors about its financial status.
Made.Com climbed 22 percent. The embattled furniture retailer said it has begun talks with a "number of interested parties" regarding the sale of the company.
Taiwan Stock Market May Spin Its Wheels On Tuesday
Losing Streak May Continue For Singapore Shares
Malaysia Bourse May Hand Back Monday's Gains
Rally May Stall For Japan Stock Market
KOSPI May Extend Monday's Losses
New Zealand Producer Price Data Due On Tuesday
U.S. Dollar Firms Against Majors
