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FTSE live: FTSE 100 up 1% at close

16.45: The FTSE 100 has risen 1 per cent today to close at 5092.63 per cent. The blue-chip index saw its biggest returns come courtesy of Petrofac Ltd and Rangold Resources Limited, both of which have risen by more than 4 per cent.

There were mixed returns across Europe with the French Cac 40 up 1.2 per cent, however the German Dax was down 0.07 per cent. The FTSEurofirst 300 was up over 0.7 per cent.

In the US, the Dow Jones has fallen back after making a 1.5 per cent gain in early trades. At 16.45, the index stood at 10871.57, a rise of 0.5 per cent. The S&P500 was trading with its opening level having been up 1.3 per cent in early trades.

Earlier today, the Nikkei 225 closed down 1.04 per cent to 8628 while the Shanghai Composite Index closed down 0.69 per cent to 2516.

15.02: The FTSE 100 has risen by over 2 per cent to stand at 5143. The news comes as markets in the US have also opened strongly with the Dow Jones up 1.5 per cent in early trades. The S&P 500 is also up by 1.3 per cent.

11:47: The FTSE 100 is up 1.65 per cent this morning to 5123. The Dax and the Cac 40 are also up as European politicians continue to tackle the debt crisis.

10.34: The FTSE 100 is up almost 2 per cent with Randgold Resources Ltd, Fresnillo and Lonmin making the biggest gains.

9.19: The FTSE 100 is up over 1 per cent in early trades to stand at 5096.26. The Dax and the Cac 40 have also risen slightly this morning.

8:20: The FTSE 100 was up slightly this morning as European politicians continue to grapple with the debt crisis.

By 8:20, the index was up 0.39 per cent to 5060 after dropping slightly on opening.

The Nikkei 225 closed down 1.04 per cent to 8628 while the Shanghai Composite Index closed down 0.69 per cent to 2516.

Over the weekend, German chancellor Angela Merkel continued to reject calls to introduce Eurobonds to help ease debt concerns in a number of European countries. “Politics cannot and will not simply follow the markets,” she said.

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