FTSE 100 close: Index breaks key barrier
London's FTSE 100 index smashed through the key 5,000 barrier this afternoon as confidence continued to lift across world markets.
At 15.15 the Footsie breached the 5,000 threshold – up 53 at 5001 and despite a subsequent fall, it eventually closed at 5004.3, up 57 points, or 1.2% on the day.
Mounting economic optimism helped offset earlier falls, with news of improvements in consumer confidence and the jobs market adding to the general cheer.
Leading the charge was British Airways, up 10p or 5% to 211p, adding to gains yesterday on upbeat comments from rival Air France, while Thomas Cook, finished 10.8p better at 245p.
Energy groups, were also pushing up the leaderboard, with BG Group 40p dearer at 1,095p and Cairn Energy, up 105p to 2,620p.
Banks and insurers were among those making gains. Barclays added 11.2p to 366.7p while Standard Life firmed 4.3p to 197.4p and Prudential added 12.5p to 557p.
But miners dominated the fallers board, following strong increases seen earlier in the week. Those on the way down included Randgold Resources, off 82p to 4272p, after gold prices retreated below the 1,000 dollars an ounce barrier. But it was Lonmin topping the fallers board, down 48p or 3%, to 1664p following a broker downgrade.
Buying interest in London was also focused on smaller stocks after a number of upbeat trading statements from the retail sector.
Sports Direct International, which owns the Sports World chain, rose 11% or 13.4p to 130.1p after it raised its annual earnings forecast and said sales continued to be ahead of last year.
Thorntons also did well, up 17% or 15.5p to 108p as the chocolate retailer reported a less-than-feared 25.8% fall in annual underlying pre-tax profits to £6.3m and a pick up in sales over the second half.
And Laura Ashley shares were 20% higher, or 3.25p to 19.5p, after its chairman reported a strong start to the second half of its financial year.
Meanwhile, debt-laden directories firm Yell continued its recovery from record lows seen earlier this year. Shares plunged to 11.75p in the summer, but now stand at 78.2p amid hopes the company can secure a long-term funding agreement with its banks. Today's gain added 13.2p or 20%.
Leisure group Whitbread failed to rally on the back of news it is expected to regain its blue chip status in the next reshuffle of the FTSE 100 Index.
An 18% surge in its share price on Monday was decisive in securing a top flight berth, as the FTSE calculates membership based on last night's closing prices. The reshuffle takes place in a few days time, but in the meantime Whitbread shares were 26p lower at 1232p.
Most watched Money videos
- The new Volkswagen Passat - a long range PHEV that's only available as an estate
- Mini Cooper SE: The British icon gets an all-electric makeover
- Mail Online takes a tour of Gatwick's modern EV charging station
- 2025 Aston Martin DBX707: More luxury but comes with a higher price
- Land Rover unveil newest all-electric Range Rover SUV
- MailOnline asks Lexie Limitless 5 quick fire EV road trip questions
- BMW's Vision Neue Klasse X unveils its sports activity vehicle future
- Tesla unveils new Model 3 Performance - it's the fastest ever!
- Mercedes has finally unveiled its new electric G-Class
- Mini celebrates the release of brand new all-electric car Mini Aceman
- Leapmotor T03 is set to become Britain's cheapest EV from 2025
- 'Now even better': Nissan Qashqai gets a facelift for 2024 version
- Superdrug unveils plans to open 25 new stores this year -...
- Sainsbury's and Microsoft sign five-year artificial...
- Turbulence at Easyjet as boss stands down sending share...
- Can we really buy a house with a 1% deposit? DAVID...
- I'm a wealthy aristocrat and we're all ruthless...
- The future of the Royal Mail is not just a matter for the...
- Stock market chief insists there is a 'strong cause for...
- Future shares jump after publisher declares £45m share...
- Young drivers can't afford to insure their cars: Number...
- Time to wind back the tourist tax, says Watches of...
- David Beckham teams up with Hugo Boss to design menswear...
- MARKET REPORT: Dow Jones tops 40,000 as investors bet on...
- Chevron to sell its oil and gas assets in the North Sea...
- Another stink at United Utilities: Water giant pays £340m...
- BT proves investors wrong as shares soar 17% in boost for...
- HSBC eyes victory in battle to keep its Asian business as...
- GSK completes sale of Haleon shares having raised £3.9bn...
- BUSINESS LIVE: GSK sells Haleon stake; Sainsbury's agrees...