Weir Group Leads FTSE 100 Forward

WEDNESDAY MARKET UPDATE: Shares in Weir Group rallied by 7.5% after the engineering company reporting better-than-expected earnings results

Alanna Petroff 27 February, 2013 | 5:39PM
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UK and European markets were all in recovery mode on Wednesday. Investors seemed to have regained their composure after yesterday's sell-off, which was sparked by inconclusive Italian election results.

"The 'everything must go' mentality of traders over the last couple of days has disappeared and, as has happened after every other market correction in the last year, the buyers have crept back in," said Alastair McCaig, a market analyst at IG. 

In London, the benchmark FTSE 100 index pushed up by 55 points, or 0.9%, to close at 6,326. The mid-cap FTSE 250 index rose by 89 points, or 0.7%, to close at 13,625.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Petrofac Ltd134.10 GBX1.21
Weir Group PLC1,872.00 GBX-0.11

About Author

Alanna Petroff

Alanna Petroff  is a financial journalist with Morningstar UK.

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