FTSE rise defies global share rout

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Last Updated at 18 Oct 2017, 11:45 GMT *Chart shows local time FTSE 100 intraday chart
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(Close): London's leading shares recovered from near 15-month lows to finish the week on a high note.

The FTSE 100 closed up 1.9% at 6,310.29, led by Tullow Oil, up 8.3% after a broker upgrade.

The big loser was Rolls-Royce, down 11.5% after warning that revenues were under pressure.

Analysts warned that the shares turbulence was not over, with Charles Stanley's Jeremy Batstone-Carr saying: "I'm not sure we're out of the woods."

Share markets in London and across the world have fallen due to a mixture of disappointing economic and corporate news, and worries about the impact of the Ebola crisis.

But the FTSE's recovery on Friday began after Thursday's encouraging US jobless claims and industrial output data.

The FTSE 100 hit a peak of 6,904.86 points at the start of September, its highest since early 2000, but has since lost ground.

Steve Ruffley, chief market strategist at InterTrader, said investors should not panic. "A correction is a natural part of the investing cycle. It is not necessarily a bad thing," he said.

Building materials firm Travis Perkins also lost ground, shedding 1% after it revealed that its sales growth slowed in the third quarter.

The pound was flat against the dollar at just under 1.61 and ahead by a cent against the euro at just over 1.26 euros.

Oil prices also picked up, with Brent crude heading above $86 a barrel after dropping to below $83 on Thursday.