Car maker drives FTSE up
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%.