Investors showed some Christmas cheer today as the FTSE 100 Index gained more than 1%.

London’s FTSE 100 Index recorded its first positive finish in six sessions today after benefiting from a strong start to trading on Wall Street.

Rising interest rates claimed a major casualty today after car dealership Pendragon warned its profits would be hit by a consumer spending slowdown.

British car retailer Pendragon said today it was benefiting from its £500m (€747.9m) deal for Reg Vardy after it emerged profits jumped 51% last year.