MARKET REPORT: Royal Mail posts 5% rise

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ROYAL Mail was the FTSE's top riser yesterday, as it benefited from the turmoil at rival City Link and lifted nearly 5 per cent.

In its first session of trading since the news, shares in the privatised firm closed 19½p higher at 442½p.

Over 2,500 jobs could be at risk at City Link after it went into administration over Christmas. Royal Mail is said to be interested in taking on some of its main customers.

City Link owner Better Capital, which lost more than 40 per cent of its value in 2014, was ½p down at 88½p.

However, there was no Christmas hangover for the FTSE 100 Index, which was up 23.58 points at 6633.51, with mining giants digging out some of the biggest gains.