FTSE opens 2% higher after Dow sheds 500 points on French fears

London's leading index was up 1.5% at 8:37am at 5,082. Overnight, the Dow saw its fifth straight day of a rise or fall of more than 400 points to close at 10,719, a loss of 4.6%. New York's broader S&P 500 index fell almost 52 points, or 4.42%, to 1,120.72. On Wednesday, France's Cac 40 share index ended 5.5% lower despite the French government's assurance that its AAA credit rating was not under threat. While agencies Moody's, Standard & Poor's and Fitch reaffirmed France's rating, analysts said investors were sceptical about the strength of the country's banking sector. Soc...