London markets rise as investors prepare to down tools for Christmas break

London markets climbed today as investors prepare to down tools and clock off for the Christmas break.

The capital’s premier FTSE 100 index closed up 0.43 per cent to reach 7,373.34 points, while the FTSE 250 index, which is more aligned to the health of the UK economy, rose 0.81 per cent to 23,266.75 points.

Three studies examining the severity of the Omicron variant of coronavirus published yesterday indicated the new strain is less severe than the Delta variant, lifting market sentiment.

Research carried out by Imperial College London suggested the risk of hospitalisaiton from Omicron is around 40 per cent lower compared to Delta.

Travel stocks led the FTSE 100 higher today as investors bet on the UK government scrapping tightening Covid-19 measures after the upbeat Omicron research came to light.

Aerospace engineer Rolls Royce and hotels group InterContinental Hotels Group laced the top end of the FTSE 100 top risers’ column.

Airlines propped up the mid-cap FTSE 250 index. Wizz Air soared more than 2.08 per cent, while easyJet gained 2.87 per cent. Aston Martin was the best performer.

The pound extended its rally against the greenback, strengthening 0.45 per cent to buy $1.341.