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FTSE 100 rebounds on Wednesday

Xinhua, May 28, 2015 Adjust font size:

FTSE 100 Index, the British benchmark stock market gauge, Wednesday increased by 1.21 percent, or 84.34 points, to 7,033.33 points.

The London stocks closed higher on Wednesday, rebounding from heavy losses in the previous day.

Queen Elizabeth II gave her speech at the state opening of the new parliament in London on Wednesday. The speech focused on continued economic stability, improving the market's confidence.

Besides, Irish cement company CRH announced it would buy assets from France's Lafarge and Switzerland's Holcim following the merger between the two.

CRH's share price increased by 3.55 percent, topping the gainers of the blue chips. Imperial Tobacco Group, International Consolidated Airlines Group, Ashtead Group and National Grid increased by 3.32 percent, 3.21 percent, 2.79 percent and 2.60 percent respectively.

Glencore led the top losers of the blue chips with a share price drop of 1.04 percent, followed by Old Mutual (0.87 percent), Weir Group (0.70 percent), SABMiller (0.52 percent) and J Sainsbury (0.23 percent).

The index has gained 9.15 percent so far this year when measured in U.S. dollars. Endit