BA helps FTSE take flight

Shortly after 8.15am, the benchmark blue-chip index was up more than 52 points, or 1.24%, at 4,305.46.

The struggling airline saw stocks jump 6.9p or 5.45% to 133.5p this morning, after the deal, which also sees 4,000 employees taking unpaid leave and 1,400 working part-time, was announced yesterday. British Airways says the move could save the company up to £10m.

Meanwhile, heating and plumbing producer Wolseley advanced 45p, or 4.17%, to £11.23 while mining giant Kazakhmys was also among the biggest winners, gaining 25.5p, or 4.08%, to 650p.

Intertek Group was among the biggest fallers this morning, dropping 17p, or 1.61%, to £10.36, followed by British Sky Broadcasting Group which fell 5.25p, or 1.16%, to 446.5p. 

Overseas, Japanese stocks saw their biggest rally in a month on Thursday, with the Nikkei 225 up 205.76 points, or 2.2%, to 9,796.08, its biggest gain since May. 

Overnight, US aluminium producer Alcoa led the Dow Jones to an impressive close on Thursday, up 172.54 points, or 2.08%, to 8,472.40.

Categories: Economics / Markets

Tags: Dow jones| Ftse