2nd December 2011
The FTSE 100 has shown a strong performance in early trading today (December 2nd) hitting a three-week high.
Investors have moved to push up the market ahead of new US jobs data and an expectation that eurozone leaders are set to take action to rectify the ongoing crisis in the region, City Wire reports.
Comments by Mario Draghi, president of the European Central Bank, hinted a more "forceful" response to the EU's problems could now be on the cards.
"Whether or not that will suffice to allay investors' previous concerns about the flaws of the euro area policy framework ... remains to be seen," said Chris Scicluna, economist at Daiwa Capital Markets.
The FTSE 100 rose by 97 points (1.76 per cent) this morning to 5,586, while the All Share Index was up by a similar figure (1.64 per cent) to stand at 2,871.
Earlier this week, UK markets dipped following an announcement by Standard & Poor that the organisation is making a number of key changes to its risk management model, affecting large financial institutions.
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