The FTSE 100 has closed higher, following gains in the US, where markets soared after Jerome Powell was nominated for a second term as chairman of the Federal Reserve.
The UK bluechip index ended the day 0.4 per cent, or 31.9 points higher, at 7,255.5, but the UK-focused FTSE 250 fell 0.3 per cent, or 62.8 points, to 23,429.7.
Bulb Energy, which is the seventh biggest UK energy suppliers with 1.7million customers, has been placed into special administration.
That means that the Government, through regulator Ofgem, will now effectively temporarily nationalise the energy firm to ensure it continues to operate as normal.
The move comes as Bulb faced collapsing within days after crunch talks between the Government and the company’s biggest secured creditor collapsed.
Meanwhile, the board of LV has defended its decision to recommend the insurer’s sale to US private equity firm Bain Capital, following fierce opposition to the deal from MPs, rival bidders and some policy holders.
Elsewhere, US private equity giant Apollo Global Management is mulling a buyout of Marks & Spencer.
The New York-based firm reportedly considers it a bargain and that the market has undervalued its online delivery venture with grocery giant Ocado, in which it bought a 50 per cent stake in 2019 for £750million.
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The proposed acquisition of LV by Bain Capital has faced fierce opposition from MPs, rival bidders and some policy holders
