Afternoon Markets: FTSE boosted by BA and insurers

The FTSE 100 continues to advance this afternoon, adding 60.29 points (1.27%) to 4816.87 at 2.30pm.

After an earlier wobble, the index regained composure, supported by a rally in British Airways shares, up 5.53% to 185.2p. Insurance firms also enjoyed gains as investors picked up cheap shares which were hit after a series of earnings reports earlier this month showed the impact of stock market turmoil and recession on their business. Legal and General Group added 4.2%, while Aviva rose 3.75%. Out of favour were financial software firm Sage Group, down 2.13%, and advertising firm WPP Group, which has fallen 2.44%. Earlier in Asia, stocks lost momentum as investors prepared for an ...