FT index dragged up by rising insurer share prices

Insurers led the wider market higher, with the FTSE 100 closing up 74.96 points, or 1.8%, to 4,202.13, the FT reports.

Friends Provident was up 12.6% to 67¾p, on hopes Resolution would sweeten its rejected takeover proposal but analysts said Resolution really wanted to buy the insurance units of Lloyds Banking group.

Aviva added 7.4% to 297¼p and Legal & General was up 8.7% to 54¼p.

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