FTSE up 1.2% on first day of 2012 trading

The UK's blue chip index rose by 1.2% in December to end 2011 at 5,572 and has continued that progress at the start of 2012 following improving economic data from China and strong gains in European markets on Monday. By 11am on Tuesday, London's main index was 70 points, or 1.25%, higher at 5,641. Data released in China overnight revealed a sharp rebound in the country's official purchasing managers index for non-manufacturing sectors, which rose from 49.7 to 56 in December. Data released last week by HSBC showed a small rebound in manufacturing data from 49 to 50.3 over the same peri...