FTSE jumps in early trades

The FTSE has risen by more than 1 per cent in early trades.

At 10.28, the blue chip index was up 1.15 per cent to stand at 5722.34.

European markets have also risen this morning with the French Cac 40 and the German Dax both rising by almost 2 per cent.

Markets have been resilient following the news on Friday that Standard & Poor’s has cut the credit rating of nine European countries, including France, which saw its AAA rating downgraded one notch to AA+.