FTSE Live: FTSE 100 closes 3 per cent up
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16.45: The FTSE has closed up almost 3 per cent at 5137.24. The French Cac 40 and the German Dax were also up 3.76 and 3.24 per cent respectively.
15.00: The FTSE has risen almost 2.5 per cent as the impact of the short selling ban continues to aid markets following a volatile week.
The blue-chip index stands at 5289, while the Dax and the Cac 40 have both risen by more than 3 per cent. Markets in the US have also risen in early trades with the Dow Jones up almost 1 per cent following a 400 point gain yesterday.
11:47am: European markets continue to move higher as the ban on short selling for some financial shares in Spain, Italy, France and Belgium continues to take effect.
The FTSE 100 is up 1.39 per cent to 5234, while the Dax and the Cac 40 are up 2 and 1.7 per cent respectively.
9.57am: European stockmarkets have moved into positive territory erasing losses in early trades.
The FTSE 100 is up 0.73 per cent to 5200, while the Dax and Cac 40 are up 1.2 and 0.8 per cent respectively.
8.30am: The FTSE 100 has fallen in early trades after another volatile day of trading for global markets.
The FTSE 100 stood at 5,104 in early trades, a fall of 1 per cent, while the French Cac 40 was down 1.85 per cent and the German Dax was down 1.5 per cent.
The news comes after the US posted strong returns with the Dow Jones up 4 per cent at close and the S&P 500 up 4.6 per cent.
Asian markets were mixed overnight with the Nikkei 225 down 0.2 per cent, while the Heng Seng was up 0.1 per cent.
- France, Spain, Italy and Belgium have imposed bans on short-selling in an attempt to stabilise markets after European Bank shares hit their lowest level since the 2008 crisis.
- The Financial Times is reporting that senior officals in Brussels are working to fast track funding for a €20bn Greek bond purchanse because the new €440bn eurozone rescue fund will not be ready in time.
- Chancellor George Osborne warned MPs in the recalled House of Commons yesterday that excessive global debt means the recovery will “take longer and be harder” than previously thought. He said now was the “most dangerous” time for the global economy since 2008.
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