Market Watch: FTSE and Dow soar on EU rescue

The Dow Jones Industrial Average climbed 423 points, or 4%, to 10,784 and is on pace for its biggest one-day gain of 2010. On Friday, the index fell for the second straight day, by almost 140 points, or 1.3%, to 10,380.43. In London, the FTSE fell back slightly after earlier advancing 5%. By 3.30pm, it had risen 216 points, or 4.22%, to reach 5,338.98. Despite a lack of resolution on talks to form a UK government over the weekend and so far on Monday, the markets reacted positively to the news contagion from the Greek debt crisis will be contained. Banks continue to benefit from...