A positive analyst note sent aerospace engineer Rolls Royce flying in the City today, bumping London’s FTSE 100.
The capital’s premier index climbed 0.9 per cent to 7,323.41 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, edged 0.17 per cent higher to 19,351.27 points.
Investment banking giant Morgan Stanley recently issued a note making the case for Rolls Royc as being one of the best buying opportunities of all FTSE 100-listed stocks, sending its shares to the summit of the index and up 6.52 per cent.
Industrials continued their ascent of recent days off the back of analysts predicting commodity prices will remain elevated despite the likelihood of the world’s top economies tipping into recessions rising.
Miners Rio Tinto and Glencore both jumped more than 1.65 per cent.
Shares in payments provider and tech-darling Wise tumbled nearly six per cent initially, before paring back losses. Its founder, Kristo Käärmann, is being investigated by the Financial Conduct Authority over a default on his tax bills, the watchdog announced earlier this week.
FTSE 250-listed budget airline easyJet was among the biggest risers on the mid-cap index, gaining a shade over two per cent.
Yields on UK government debt were flat. Yields and prices move in opposite directions.
The pound tumbled nearly 0.6 per cent against the dollar to buy $1.2194.
Fresh consumer confidence data for Europe and the US published today revealed economic optimism in the world’s richest countries continues to tumble.
Wall Street opened sharply lower.