London stocks rise on upbeat global mood, BT Group tumbles

The blue-chip FTSE 100 rose 0.5%, reflecting an upbeat mood in global markets on hopes that Washington is edging closer to a deal to raise the U.S. debt ceiling and avert a default. Aston Martin said that Geely Automobile Holdings Ltd had committed to invest about 234 million pounds ($295.33 million) in the luxury carmaker, sending its shares up over 21%.

UK's FTSE 100 recovered on Thursday, tracking optimism in global markets, however, shares of BT Group tumbled and touched over a three-month low on reporting weak cash flows.

BT Group dropped 8.6% after UK's biggest broadband provider reported annual cash flows for the year at the lower end of expectations, and said it expects to cut up to 55,000 jobs by 2030. The blue-chip FTSE 100 rose 0.5%, reflecting an upbeat mood in global markets on hopes that Washington is edging closer to a deal to raise the U.S. debt ceiling and avert a default.

Aston Martin said that Geely Automobile Holdings Ltd had committed to invest about 234 million pounds ($295.33 million) in the luxury carmaker, sending its shares up over 21%. The carmaker was the biggest gainer on the domestically focused FTSE 250, which added 0.3%.

Burberry Group Plc reported stronger-than-expected fourth-quarter sales, though shares of the luxury fashion brand lost 5%.

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