…FTSE gains 2.3 per cent
BRITAIN’S top share index closed 2.3 per cent higher yesterday – its biggest gain since mid-July – as heavyweight commodity and bank issues rallied on renewed hopes over the gathering pace of the global economic recovery.
At the close, the FTSE 100 was up 113.65 points at 5137.98, after closing 0.7 percent higher on Monday.
“The FTSE has had a bumper session today after yesterday’s strong performance in the US… surging higher yet again as optimism returns ahead of the start of earnings season,” said Jimmy Yates, Head of Equities at CMC Markets.
Indices responded to signals that the economic recovery was underway in Australia after the Reserve Bank of Australia raised its cash interest rate by 0.25 point to 3.25 percent.
The dollar weakened after reports Gulf Arab States were thinking of replacing it with other currencies.