Better-than-expected growth in the German economy calmed markets today following the turmoil caused by political stalemate in Greece.
Bargain hunters also moved in after last night’s 2% slide as the FTSE 100 Index mirrored other European markets with a rise of 38.9 points to 5504.4.
The Greek uncertainty, which analysts said could ultimately lead to it leaving the single currency, has hit financial stocks but there was some encouragement for Europe’s austerity drive after Germany’s surprise 0.5% growth in GDP.
Miners recovered lost ground, with silver miner Fresnillo up 26p to 1407p, Anglo American 32p higher at 2151p and Antofagasta 13.5p higher at 1029.5p.
In corporate news, security services group G4S was the biggest riser in the FTSE 100 Index after it reported first quarter revenues growth of 7.5%. Shares were 9.8p higher at 276.6p as G4S also said that profits for the period were in line with a year earlier.
There was an improvement of 2% for airport security and medical devices firm Smiths after it said it remained on track for underlying earnings of around £550 million in the current financial year. Shares were 18p higher at 1044p.
