• FTSE 100 up 1.6% to 6,558
• Gold up 0.02% to $1,258.19/oz
• £/$ – 1.6322
The FTSE 100 rose 1.6% to 6,558 as markets rallied following recent declines.
Vodafone’s third-quarter revenue declined by less than was feared, pushing the telecoms stock 3.7% higher.
Pharmaceutical giant Reckitt Benckiser followed with a 3.3% gain, and miner Glencore Xstrata was 3.0% higher. However, fellow miner, Randgold Resources, fell 1.6%.
In Europe on Thursday, the Paris CAC 40 rose 71 points to 4,188, and the German Xetra Dax gained 140 points to 9,256.
In the US, the Dow Jones Industrial Average climbed 1.2% to 15,628, as did the S&P 500 to 1,773, and the Nasdaq Composite was 1.1% higher at 4,057.
Overnight in Asia, Japan’s Nikkei 225 rose 2.2% to 14,462, and the broader Topix index gained 2.3% to 1,189. And in China, the markets are still closed.
In the forex markets this morning, sterling was trading against the US dollar at 1.6330 and against the euro at 1.2035. The dollar was trading at 0.7373 against the euro and 102.04 against the Japanese yen.
And in the UK, a report from the National Institute of Economic and Social Research (NIESR) concluded that real consumer wages won’t recover to their 2009 levels until 2019 at the earliest. This comes despite the fact that it expects economic growth to pick up 2.5% this year.• This article is taken from our free daily investment email, Money Morning. Sign up to Money Morning here.