FTSE on course to post largest weekly gain for a year

The index was up 0.6% at 5,784 by late morning, and has now fully erased the losses seen last week - a 2.8% fall which represented its worst five day period since late May 2012. Today's rise puts the index up 3.2% for the week thus far, meaning it needs to add only another 10 points from its current level to surpass the 3.3% rise seen in the week to 10 June this year. The previous largest rise was the 7.5% leap seen at the start of December 2011, as equities bounced back following a torrid autumn. SAB Miller led the blue chip index higher this morning, rising 6.5% to £28.04 after i...