FTSE gains 0.7% on Irish bailout

In a move aimed at bringing financial stability to peripheral Europe, Ireland is understood to be receiving €80-90bn over the course of the next three years. The euro also strengthened on the news, gaining $1.3745 in London this morning from $1.3673 in New York on Friday. After dragging the index into negative territory last week, this morning mining shares were the biggest risers. Xstrata gained 1.97% to £13.45 while Kazakhmys grew 1.86% to £14.77 and Fresnillo rose 1.63% to £14.31. Bank shares also saw early morning gains, Barclays rising 1.53% to 278.4p, Lloyds Banking Group i...