Markets: FTSE shrugs off the Greek election result

published 27 January 2015

FTSE 100 up 0.3% to 6,852 Gold up 1.0% to $1,281.38/oz £/$ - 1.5078

The FTSE 100 shrugged off the win for the anti-austerity party, Syriza, in Greece to climb 19 points higher to 6,852.

Utility giant BG led the index with a 2.9% gain. And International Consolidated Airlines followed, closing 2.4% higher in the wake of its takeover bid for Aer Lingus (see below).

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At the other end, Greek bottling-company Coca-Cola HBC was the biggest faller of the day, down 3.2%.

In Europe, the Paris CAC 40 rose 34 points to 4,675, and the German Xetra Dax gained 148 points to 10,798.

In the US, the Dow Jones Industrial Average edged less than one percentage point higher to 17,679, the S&P 500 rose 0.3% to 2,057, as did the Nasdaq Composite to 4,772.

Overnight in Asia, Japan's Nikkei 225 and the broader Topix index rose 1.7% to 17,768, and 1,426. And in China, the Shanghai Composite fell 0.9% to 3,353, and the CSI 300 also slid 0.9% to 3,574.

Brent spot was trading at $47.75 early today, and in New York, crude oil was at $44.89. Spot gold was trading at $1,278 an ounce, silver was at $17.94 and platinum was at $1,254.

In the forex markets this morning, sterling was trading against the US dollar at 1.5106 and against the euro at 1.3324. The dollar was trading at 0.8819 against the euro and 118.06 against the Japanese yen.

And in the UK, International Consolidated Airlines' (IAG) improved €1.36bn offer for Aer Lingus has been accepted by the Irish airline's board in principle. IAG, the parent company of British Airways, said Aer Lingus would continue to fly under its own brand.