FTSE 100 recovers from Trump downturn

(Close): The FTSE 100 ended the day 1% higher, recovering from earlier declines on news of Donald Trump's US election victory.

A market rout predicted after big falls on Asian indexes failed to materialise.

London shares initially dropped more than 1%, but pulled back to close 68.71 points higher at 6,911.84.

Gold producers Randgold and Fresnillo saw big rises as investors moved to safer assets. Sainsbury's fell 6.6% on news of lower sales and profits.

That news also hurt Tesco and other retailers.

Other European stock markets fared less well at the open, with Frankfurt's Dax down nearly 2% and the Cac-40 in Paris falling 1.76%. However, both indexes closed about 1.5% higher.

On the currency markets, the pound was up 0.62% against the dollar at $1.2458 and was 1.4% higher against the euro at €1.1388.