FTSE back at 5,700 on hopes of ECB action

The FTSE 100 has added 1.2% to move back towards 5,700 as global markets anticipate concrete policy action to protect the euro later this week.

The optimism prompted by European Central Bank president Mario Draghi's comments last week, when he said the ECB would do "whatever it takes" to preserve the euro, continued in Monday's trading as European financials led gains. Growing expectations that the ECB may restart its bond buying programme or announce other measures after the bank's policy meeting on Thursday helped push the FTSE 100 up 72 points to 5,700 shortly before the close. In Germany, the DAX was up 1.4% at 6,785, with France's Cac 40 rising 1.4% to 3,327, Credit Agricole leading the latter with a 7.6% rise to €3.60. ...