Imperial Tobacco Group and Eurasian Natural Resources Corp (ENRC) both posted gains in trading today (Wednesday), with their strong performances reassuring investors that the UK's economic recovery is on track.
Those involved in online trading saw Imperial Tobacco rise by 4.7 per cent following news that it plans to pay more in dividends as a result of higher sales, Bloomberg reports.
ENRC climbed by 2.6 per cent after revealing that fourth-quarter ferroalloy output increased by 5.6 per cent.
Graham Bishop, an equity strategist at Royal Bank of Scotland Group, said the economic recovery in the US also bolstered the FTSE 100, which advanced by 0.6 per cent to 5,993.72.
"We maintain our view that European equities are the leveraged play on a broadening in global growth. The momentum in the US economy looks consistent with stronger job creation over the coming months," he told the news agency.
Michael Hewson, market analyst at CMC Markets, told Reuters that an improvement in risk appetite since the start of the week has contributed to the positive performance of the FSTE 100.
Source: http://www.onefinancialmarkets.com
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