Advertisement
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.
DAX Up 0.8%, Looks Set To End Week On Strong Note
Antipodean Currencies Recovers Amid U.S.-China Trade Deal Optimism
European Shares Edge Higher In Cautious Trade
Yen Rises Amid Risk-off Mood, BoJ Rate Hike Bets
Asian Shares Mostly Lower As Investors Look For Clarity On Tariff Impact
NZ Dollar Rebounds Against Majors
Malaysia GDP Growth Softens As Estimated
