London's leading index has edged through the 6,000 point barrier for the first time in over a month, despite Standard & Poor's warning on Greece.
The ratings agency said it would likely classify the voluntary rollover proposed by the French government as a default if it was approved. However, the FTSE 100 managed to take this in its stride, remaining 0.34% or 21 points ahead, at 6,014 points, by 12:20pm. The leading index was driven up by energy giants BP and Shell, as well as tobacco stocks which all moved higher. They helped counter banks which were hit by renewed default fears and a downbeat survey of the financial sector by the CBI. The survey said despite the financial services sector continuing to recover over the p...
To continue reading this article...
Join Investment Week for free
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes