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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) | |
(Close): London shares closed higher on Friday in the wake of new bailout plans from Greece and another day of relative recovery on Chinese markets. | |
The FTSE 100 was up 1.39%, or 91.75 points, at 6673.38. Markets in France and Germany closed up 3.07% and 2.9%. | |
It came after Greece presented an economic reform package in its bid to seal a debt agreement, | |
Earlier, Chinese shares closed up 5% as government moves that dramatically limit share sales took further affect. | |
Among the winners on the FTSE was Intercontinental Hotels. | |
Shares in the hotel group were up 3.07% on news it was selling Intercontinental Hong Kong for almost $1bn (£645m). | |
Top gainer was Standard Life, and biggest faller was ARM Holdings. | |
Airline stocks were doing well after Ryanair said it would accept IAG's offer for its 30% stake in Aer Lingus. | |
On the currency markets, the pound fell 0.32% against the euro to €1.3897 and was 0.79% higher against the dollar at $1.5502. |