FTSE opens higher after late rally on Wall Street

London's leading share index climbed in early trading after a strong session on Wall Street yesterday.

The FTSE 100 rose 0.54% to at 5,542, tracking a late rally on Wall Street which gathered momentum as Spanish bond yields came off record highs. Wall Street dipped earlier yesterday as yields on Spain's 10-year bond hit 6.86% shortly after the €100bn bank bailout was agreed. This was their highest level since the launch of the euro in 1999. However, the yield dropped back later in the session. The S&P 500 closed up just over 1% at 1,324, and the Dow Jones finished up 1.3%. In Asia, shares moved higher overnight despite uncertainty over Spain's bank bailout plan. The weekend's electi...