Car maker drives FTSE up

The Press and Journal (Moray) - - BUSINESS -

The FTSE 100 leapt to a three-week high yes­ter­day, with Rolls-Royce help­ing drive the in­dex north.

Lon­don’s top flight rose 62.08 points, or 0.81%, to end at 7,765.79.

Rolls led the ris­ers af­ter an­nounc­ing that 4,600 jobs are be­ing axed in the firm’s latest shakeup. In­vestors warmed to the news, with shares ris­ing 54.2p to 882.8p by the close.

The FTSE 100 was also helped by the Euro­pean Cen­tral Bank, which said it would not hike in­ter­est rates un­til 2019, boost­ing stocks across the con­ti­nent, as well as ster­ling weak­ness ver­sus the dol­lar fol­low­ing US re­tail sales data.

Ster­ling was trad­ing 0.4% down against the dol­lar at 1.332, but rose by 1% against the euro to 1.145 fol­low­ing com­ments from the ECB.

Across Europe, France’s CAC 40 was up 1.56% and Ger­many’s DAX rose 1.68%.

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