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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) | |
(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 76.54 at 6658.1 with Intercontinental Hotels top of the gainers. | |
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. |