The FTSE rose 1.53%, or 97.4 points, to 6446.5 this afternoon as Vedanta Resources rose 6.71%, or 147 points, to 2339p following rumours the mining company will receive a takeover bid.
Lloyds TSB rose 4.85%, or 23 points, to 497p despite reports it may reveal £150m of write downs this year due to the sub-prime mortgage crisis.
Alliance & Leicester rose 4.59%, or 31.5 points, after reports say Credit Suisse gave it £4bn on similar terms to the emergency funding it received from the Bank of England.
Northern Rock fell 5.74%, or 6.7 points, to 110p after economist said its total emergency borrowing would hit £30 by the end of the year.
The Dow Jones rose 0.39%, or 51.94 points, to 13363.67c.
American Express rose 2.71%, or 1.54 points, to 58.43c after the credit card company launched an online facility to make shopping on US website easier for international customers.
American International Group rose 1.76%, or 1.01 points, after UBS analysts maintained their ‘neutral’ rating.
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£300bn of liabilities
View from the front row
Transfer from occupational scheme
Appointed by FCA and PSR boards