Equities rally as ECB pledges to save euro

European stocks are climbing after a four day sell-off, following a pledge from European Central Bank president Mario Draghi that the ECB will "do whatever it takes to preserve the euro".

Indices across Europe surged as Draghi repeated comments made to Le Monde newspaper last week that the euro is "irreversible". He added: "Within our mandate the ECB is ready to do whatever it takes to preserve the euro, and believe me, it will be enough. "When people talk about the fragility of the euro, very often non-euro members underestimate the political capital that has been invested". In reaction the French Cac is up 3.18% to 3,181.38, while the Euro Stoxx 50 is up 3.38%. Spain's IBEX 35 - which has sold off heavily this week - is 3.5% higher, while Italy's FTSE MIB is up almos...