FTSE 100 jumps 2.57%
The FTSE 100 jumped 2.57 per cent to a three-week high of 4,346.46 as more US earnings data cheered investors.
US stocks rose sharply in early afternoon trading after Intel Corp outperformed expectations in its quarterly results and outlook, giving investors hope the economy has turned.
In the UK, the mining and insurance sectors led the rise, with Xstrata up by 8.32 per cent, Old Mutual up by 6.84 per cent and Legal and General trading 6.67 per cent higher.
Almost every single stock on the blue-chip index finished higher, despite government figures released earlier showing a rise in unemployment.
Only Icap and Reckitt Benckiser were in the red, down by 3.10 per cent and 0.25 per cent respectively.
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