Europe and Asia End Higher

European stock markets closed higher on Tuesday. In London, the Financial Times-Stock Exchange 100 gained 19.40 points, or 0.42%, to close at 4693.20. Ryanair skyrocketed 15.48% after posting a 18% rise in net income for the first-half of the year, higher than expected, with passenger growth up by 24%. Elsewhere in the sector, airport operator BAA closed 0.35% higher after reporting an 11.4% rise in operating profit for the first-half of the year, but slightly below consensus. British Airways gained 1.5% on lower oil prices while BP and Shell traded lower. Sainsbury fell 1.96% after a member of the Sainsbury family yesterday rebutted speculation about the group and backed Justin King, chief executive, to turn the group around.

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