Business

FTSE 100 posts best day for three weeks

FTSE

(Close): The London market closed at its highest level since January 6 as oil prices ended above $32 a barrel.

The FTSE 100 index closed up 1.3%, or 78.9 points, at 5,990.3.

Royal Bank of Scotland was among the biggest fallers, down 2% to 255.7p, after announcing a series of write-offs that see it post a loss for 2015.

Luxury goods firm Burberry was also down as investors remained nervous about the Chinese economy.

Burberry, which makes almost a third of its profits in China, fell 1,7%p to £11.90.

ARM Holdings, which makes chips for the iPhone, slipped 1.9% to 995.5p following disappointing results from Apple overnight.

The top riser was software firm Sage, which rose 7.5% after posting strong results this morning.

On the currency markets, the pound fell slightly against the dollar to $1.4248 and was down 0.7% against the euro to €1.3113.

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