13/01/15 Market Movements

Market News

The FTSE 100 closed up 43.04 points at 6,544.46, after Morrison’s became the latest retailer to report better than expected Christmas sales and a shake-up of senior management, leading to an increase in share price of 4.47%.

The retailer was not the biggest climber though, as Admiral beat it to the top with a rise of 4.68%. The biggest faller of the day was Tullow Oil, falling 4.65%.

Tullow Oil, along with many of the other oil companies within the index, fell after comments from Ed Millband that the regulator Ofgem should be given new powers to force firms to cut energy bills.