Updated at 14.30: London's FTSE has stormed through the 6,000 barrier to hit 6026, up 2.2%, as strong corporate earnings and a new record high for gold prices triggered a European rally.
Propping up London's leading share index is ARM Holdings, up over 5% on the back of a bullish report from US peer Intel, and Xstrata, up over 4%, on the back of strong copper and gold prices. All main European markets have raced into positive territory, with Germany's Dax up 2.8% and France's Cac 40 advancing 2.3% as traders shrug off any lingering negative sentiment relating to Standard & Poor's downgrade in its outlook of US debt. Also powering European stock markets into positive territory was news the gold price broke through the $1,500 barrier on the back of a weak dollar and eur...
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