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FTSE rises in early trades

The FTSE 100 has risen by almost 1 per cent in early trades.

At 9.54, the blue-chip index was up 0.89 per cent to stand at 5147.84 with Whitbread, Lloyds Banking Group and Royal Bank of Scotland making the largest gains. The French Cac 40 and the German Dax have also made small gains in early trading.

The rise comes amid continuing concerns around market volatility. The FTSE 100 fell 3.6 per cent yesterday, while other markets across Europe fell almost 5 per cent.

Debt concerns remain prevalent across the eurozone. It is feared that Spain and Italy may follow Greece in asking banks and other private holders in government bonds to swap them for others that pay a lower rate of interest over a longer period.

Global markets have also fallen with Nikkei 225 in Japan down 2.2 per cent. The Dow Jones also fell 2.2 per cent by the close of trade in the US.

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