World markets stormed ahead today as trading set new record highs on Wall Street following encouraging data from the powerhouse Chinese economy.
London’s FTSE 100 Index joined in the market rally, closing 74.2 points higher at 6,387.4, with markets across Europe also making strong gains thanks to comments from Europe that suggest bail out loans given to Ireland and Portugal will be extended by seven years.
Mining stocks enjoyed mixed fortunes – Vedanta Resources was ahead 63p to £11.79, but Fresnillo was the biggest faller with a 31p drop to £13.23.
Banks benefited from the improved sentiment, with Barclays ahead 12.25p at 298.25p, Royal Bank of Scotland 11.5p higher at 285.4p and Lloyds Banking Group 1.2p stronger at 48.4p.
Low-cost airline easyJet topped the risers board, up by 68p to £10.90, after Citigroup introduced a buy rating on the FTSE 100 newcomer.
Meanwhile, shares in Halfords rose 5% as it defied the impact of freezing weather on bicycle sales to report underlying revenues growth of 0.3%. Shares were 17.2p higher at 333.3p.
The biggest FTSE 100 risers included International Airlines Group ahead 13.7p to 250.9p and CRH up 66p at £14.30.
Among the biggest FTSE 100 fallers were Randgold Resources off 120p to £53.40, Tullow Oil 20p lower at £11.67 and BG Group down 8p at 1,122.5p.
Carrie Keenan, of investment manager and financial planning specialist Brewin Dolphin in Aberdeen, said risers included FirstGroup, up 4.4% at 216.3p, and Standard Life finished the day up 3.55% at 340.9p.
Fallers included A.G. Barr, which softened 2.35% to 542p, while Optos gave up 1.18% at 148.125p.