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FTSE 100 peers over 5,000 off the back of bail-out deal

The FTSE 100 crawled over the 5,000 mark this morning following the early approval of the second bail-out plan in the US.

At 10.06 the market was up 1.16 per cent, led by the sharp rise in troubled-bank HBOS’ shares rising by 12.49 per cent, while potential buyer Lloyds TSB is up 5.5 per cent.

The index fell over 5 per cent on Monday, while news of the failure of the first bail-out by the US House of Representatives raised fear that further drops were in the offing only for it not to come to fruition.

Hargreaves Lansdown broker Richard Hunter says: “The market has only moved markedly because we are only half way there. It got to this point last time only for the House of Representatives to reject it on Monday. The FTSE is almost waiting with baited breath and continues to track on the drip-fed information from the US.

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