European bank recapitalisation plans lift markets

The FTSE 100 made up some of the ground lost in recent days, gaining over 100 points in early trading, amid talk in Europe of plans to recapitalise the banking system.

The blue chip index jumped to 5,072 points initially, before settling at 5,000.23 points by 8:54am, with miners and banks taking the index up 1.1%. The rally in the UK followed gains in the US overnight where investors sent the S&P 500 up 2.3%, or 24.7 points, to 1,123.95. The Dow also finished higher, up 1.4% or 153 points, to 10,808, as markets made a stand following a sharp sell-off in the last few days. Meanwhile in Europe shares also climbed, with the French Cac 40 up 1.7% or 47.41 points, at 2,897.96, and Germany's Dax up 1.4%, or 70.79 points, at 5,287.5. Stocks made gain...