BP Fuels FTSE Higher as Wall Street Remains Closed

TUESDAY MARKET UPDATE: Tropical Storm Sandy ensured trading volumes were low on Tuesday but individiual items of good news helped push the FTSE higher in London

Holly Cook 30 October, 2012 | 7:48PM

Expectations that European markets would suffer in the absence of US trading, as Wall Street were closed for the second consecutive day on account of Tropical Storm Sandy, failed to materialise on Tuesday. Instead, some upbeat economic news and better-than-expected corporate earnings helped push indices higher.

The FTSE 100 index added 55 points or just under 1.0% to close at 5,850, while the FTSE 250 index took on 34 points or 0.3% to 11,964.

Across the pond, US markets remained closed following the Monday landfall of Tropical Storm Sandy on the East Coast. The major exchanges have yet to state whether they will open Wednesday. 

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About Author

Holly Cook

Holly Cook  is Managing Editor of Morningstar.co.uk

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