London markets bounced back on Friday, taking a cue from strength on Wall Street, with major oil companies and mining stocks driving gains for the index. CNA, +3.42%
What did markets do?
The U.K.’s FTSE 100 UKX, +2.07% rose in line with other European markets, with most well over 1%. The index rose 1.8% to 6,699.57, after finishing down 1.5% on Thursday. In a shortened, but volatile week of trade, the FTSE stands to lose around 0.4%.
The pound GBPUSD, +0.3006% climbed to $1.2691 from $1.2643 late Thursday in New York.
What is driving the markets?
Despite a wild week of trading in the U.S., equities there managed to rebound Thursday, with gains set to continue into Friday’s session. The Dow Jones Industrial Average DJIA, +1.14% erased a sharp loss on Thursday that knocked 611 points, or 2.7%, off the blue-chip gauge at one point.
But investors remain wary after Wall Street’s recent market oscillations, with Asian markets managing only cautious gains Friday.
An earlier gain Friday in oil prices also helped push heavily-weighed energy companies higher, though crude pulled back from those gains as the session wore on Friday.
What stocks are active?
Engineer Melrose Industries PLC MRO, +2.92% jumped over 4%, energy company Centrica PLC CNA, +3.42% gained 2.7% and oil services group John Wood WG., +4.05% rose over 3%. BP PLC BP, -0.87% BP., +3.43%
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