30th July 2012
The FTSE 100 opened slightly higher on Monday (July 30th) as stocks were boosted by expectations that central banks may introduce fresh stimulus to tackle the global economic slowdown.
It rose 25.91 points to 5,653.18 points – a 0.5 per cent rise – and enough to mean that the blue chip index enjoyed its third consecutive session of gains after building on a solid one per cent rise on Friday, reports Reuters.
Traders have been buoyed by comments made by European policymakers in recent days.
German chancellor Angela Merkel held a conference call with Italian prime minister Mario Monti and vowed to take all steps to fight the eurozone sovereign debt crisis and quickly implement plans made last month.
Equity markets and heavyweight financial stocks were also boosted by comments made by Mario Draghi, president of the European Central Bank, who said that he would do everything in his power to save the euro.
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