FTSE higher after Christmas break

December 29, 2015 5:31 pm Published by

FTSE 100 higher after Christmas break

  • 29 December 2015
  • From the section Business

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(Close): London’s leading shares ended the day higher as a modest recovery in oil prices helped to boost European and US markets.

The benchmark FTSE 100 index rose 59.93 points, or 0.96%, to 6,314.57.

The price of Brent and US light crude rose 2.5% and 2.2% a barrel respectively, having fallen close to 11-year lows on Monday.

Hikma Pharmaceuticals was the biggest gainer, up 4.75%, while housebuilders also outperformed.

Shares in Taylor Wimpey, Berkeley Group and Persimmon were all up between 2.9% and 3.5%.

The biggest faller on the index was mining giant Anglo American, down almost 7.5%.

It comes amid ongoing weaknesses in the commodities sector and follows Anglo’s sale of a shuttered Australian mine for A$25m (£12.2m; $18m) last week.

Also falling were commodities trading firm Glencore and Chilean miner Antofagasta, down 0.7% and 2.6% respectively, on continuing worries over China’s economic slowdown.

European shares were trading more strongly, with Germany’s Dax up 1.9% and France’s Cac 40 1.8% higher.

On the currency markets, the pound fell 0.35% against the euro to €1.355, and 0.78% against the dollar, to $1.479.

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This post was written by FSB News