FTSE LIVE: WPP unveils Sorrell’s replacement; Funding Circle launches £2bn float; UK stocks rebound


FTSE CLOSE: London shares close 1% higher; WPP unveils Sorrell’s replacement; Funding Circle launches £2billion float

The FTSE 100 closed 72.18 points higher at 7,504.60.

Advertising giant WPP has confirmed that Mark Read will become chief executive, replacing the firm’s long-standing boss Sir Martin Sorrell, who left earlier this year in controversial circumstances. 

And peer-to-peer lender Funding Circle has announced plans to raise £300million via a stock market flotation which will value the firm at up to £2 billion.   

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