FTSE rebounds as Rolls-Royce surges
- 12 February 2016
- From the section Business
(Open): London's leading shares rose 1% in early Friday trading, rallying after Thursday's big losses.
In the opening minutes, the benchmark FTSE 100 added 55.38 points to 5,592.35.
On Thursday, the index fell 2.4%, while US and European markets also posted sharp declines amid continued anxiety about the state of the global economy.
Friday's biggest gains came from aero-engine giant Rolls-Royce, which added 13.5%.
Investors were relieved after the firm announced annual profits of £1.35bn, although it added that it would be cutting its dividend by 50%.
On the currency markets, the pound was up 0.48% against the euro at €1.2845.
The currency was also 0.06% higher against the dollar at $1.4484.