The FTSE 100 popped today — thanks to the monster share price rally by Lloyds Banking Group and security firm Serco.
The index closed up by 2.48%, reaching 6012.81 by the end of the day.
The jump in the British blue-chip index was greatly helped by Lloyds’ stock price.
Lloyds shares rocketed as soon as the British bank said it would still pay a decent dividend to shareholders despite profits dropping. The share price closed up by 13.49%.
On top of that, Serco released its 2015 results and it showed that losses were dramatically reduced by Rupert Soames – the grandson of wartime Prime Minister Winston Churchill, who was appointed CEO of Serco in May 2014 when the outsourcing business, which does everything from handle cash to guard prisoners, was in the midst of a huge scandal.
Serco shares was the leader of the FTSE 100 with a 15.8% rise by the end of the day.
The FTSE 100 was then helped further by the fact that the Office for National Statistics confirmed that the UK economy grew by 0.5% between Quarter 3 (July to Sept) 2015 and Quarter 4 (Oct to Dec) 2015 — thanks for consumer spending.
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