Thomas Cook shares leap 9%

Shares in Thomas Cook rose as much as 9% after it said it would grow in 2017, buoyed by future bookings and a turnaround plan for its German airline, and after it stuck to its pledge to pay its first dividend in five years.

The British travel group remained profitable in 2016 despite disruption in Turkey, and said confidence in its future performance meant the board was recommending a dividend of 0.5 pence per share for the full-year 2016, keeping to guidance it gave last year.

Its shares hit a six-month high, which analysts said was due to reassurance given by the company that it was on track to meet profit forecasts for the 12 months to the end of September in 2017.