Pound climbs and bond yields ease as PM backs Reeves

The FTSE 100 and sterling rallied while the bond market calmed on Thursday as Prime Minister Sir Keir Starmer supported his Chancellor, reassuring markets that a change at the Treasury was not on the cards.

The FTSE 100 index closed up 48.51 points, 0.6%, at 8,823.20. The FTSE 250 jumped 250.09 points, 1.2%, at 21,702.58, and the AIM All-Share rose 8.49 points, 1.1%, at 776.25.