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FTSE 100 boosted by moves on Greece and China FTSE 100 boosted by moves on Greece and China
(about 4 hours later)
(Open): The FTSE 100 opened stronger on Friday in the wake of new bailout plans from Greece and another day of relative recovery on Chinese markets. (Noon): The FTSE 100 remained higher on Friday in the wake of new bailout plans from Greece and another day of relative recovery on Chinese markets.
Chinese shares closed up 5% as government moves that dramatically limit share sales took further affect.Chinese shares closed up 5% as government moves that dramatically limit share sales took further affect.
Chinese shares suffered a 30% fall in the past month and rises of the past few days have not made that up.Chinese shares suffered a 30% fall in the past month and rises of the past few days have not made that up.
The FTSE 100 index was up 72.84 at 6,654.47, with Intercontinental Hotels top of the gainers. The FTSE 100 index was up 76.54 at 6658.1 with Intercontinental Hotels top of the gainers.
That rose almost 4% on news it was selling Intercontinental Hong Kong for almost $1bn. Shares in the hotel group were 3% on news it was selling Intercontinental Hong Kong for almost $1bn.
Airline stocks were doing well after Ryanair said it would accept IAG's offer for its 30% stake in Aer Lingus. Rises were around 2%.Airline stocks were doing well after Ryanair said it would accept IAG's offer for its 30% stake in Aer Lingus. Rises were around 2%.
On the currency markets, the pound fell 0.27% against the euro to €1.3905 and was 0.43% higher against the dollar at $1.5446.On the currency markets, the pound fell 0.27% against the euro to €1.3905 and was 0.43% higher against the dollar at $1.5446.