Business

FTSE strongly ahead after see-saw week

  • 27 August 2015
  • From the section Business
Trader in London

(Close): After a week of see-sawing, London's main benchmark index rose sharply on Thursday, after Chinese shares rebounded strongly overnight.

The FTSE 100 closed up 212.83 points, or 3.6%, at 6,192.03, with markets in Germany and France also making strong gains.

Shares opened higher and then surged ahead in afternoon trading after US GDP figures were revised up sharply.

Miners led the way, with Anglo American and BHP Billiton jumping more than 9%.

Antofagasta and Rio Tinto also performed well. Away from mining, Standard Chartered bank closed up 7%.

Only one stock, hotel and restaurant group Whitbread, lost ground.

The US Commerce Department said the country's economy grew by 3.7% between April and June, much higher than its first estimate of 2.3%, which helped to boost investor sentiment after a trying week on global markets.

On the currency markets, the pound was down half a cent against the dollar at $1.5409 and up almost half a cent against the euro at €1.3712.