THE FTSE 100 Index gained by more than 1% today as optimism from major companies in the US and Asia helped markets recover from yesterday’s wobble.
Strong quarterly trading figures from bellwethers of consumer demand, such as Amazon and South Korea’s Kia Motors, ensured the recovery fears that dominated trading on Thursday were quickly forgotten.
Ahead of the publication of third quarter economic output figures in the UK, the Footsie stood 52.5 points higher at 5259.8.
Miners drove the rebound with Vedanta Resources up 70p at 2356p and Kazakhmys 34p higher at 1286p.
And a strong session for insurers saw Aviva improve 9.5p to 438.6p and Prudential top the Footsie risers board with a gain of 21.5p to 624p.
Broadcaster BSkyB also posted a strong performance, up 16p to 575.5p, after it reported a 40% leap in first quarter profits and said net customer additions were better-than-expected at 94,000 in the three months to September 30.
Outside the top flight, doorstep credit firm Provident Financial held firm after it said impairment levels remained under control. While it maintained a cautious view of trading prospects, shares in the FTSE 250 Index firm rose 1.5p to 961.5p.