London Report: Strong Aggreko and Eurozone data help the FTSE to rebound

BRITAIN’S top share index bounced back from two-month lows yesterday as power provider Aggreko jumped on an upbeat profit outlook and the broader market found some technical support following a recent sell-off.

A survey showing Eurozone businesses were ending the year on a high as new orders surged also helped the blue-chip FTSE 100 to extend gains.

The index closed 82.24 points, or 1.3 per cent, higher at 6,522.20 points, after having earlier fallen to 6,422.23, its lowest since early October.

The bounceback was helped by Aggreko, which jumped 8.5 per cent after the company, which will provide temporary power for next year’s football World Cup in Brazil, said its full-year results would beat analysts’ expectations.

The broader market was also helped by the Eurozone data, with Markit’s flash Eurozone composite purchasing managers’ index (PMI), which gauges business activity across thousands of companies, rising to 52.1 in December from 51.7 last month. It was the second-highest reading since mid-2011.