FTSE

Global stocks are continuing to surge today on expectations the ECB will step up its government bond purchases to ease pressure on the ailing eurozone.

The FTSE 100 was up 1.09% or 60.17 to 5588.44 at 10.20am, shrugging off yesterday's dull showing after concerns over the eurozone debt left the index firmly in the red.

The FTSE edged 0.4% higher to 5,574.98 points in early trading, recovering some of yesterday's 2.1% loss.

The FTSE closed today with triple-digit losses as George Osborne's assertion Britain is out of the financial "danger-zone" failed to lift investors fretting over the euro debt crisis.

The FTSE has lost its early banking-fuelled gains as investors took stock of disappointing mortgage data.

Banks led the FTSE 100 index 0.6% higher in early trading to 5,704.96 as investors showed their relief after Ireland agreed an €85bn (£72.5bn) rescue package.

The FTSE had a volatile start to the day's trading as fears over conflict between North and South Korea hit gobal markets.

The FTSE 100 fell almost 1% this afternoon, reversing early morning gains, due to rising political uncertainty in Ireland.

European stock markets fell this afternoon as China raised its bank reserve rate for the second time in a week in a bid to control inflation.

The FTSE took its early lead from strong gains in Asia rather than muted US markets, up by 0.5% to 5,723.51.