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FTSE adds 110 points as global rally resumes

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The FTSE 100 index has shrugged off the heavy falls seen at the end of last week to resume its upward trend in early trading this morning.

Having shed 2.7% last Thursday and Friday, the index bounced sharply today as it mirrored gains made elsewhere overnight and on Monday.

The FTSE was up 1.6%, or 108 points, at 6,762 by mid-morning, around 110 points off the 13-year high set last week.

That put the blue-chip index firmly on course for its 12th consecutive monthly gain, having now risen 5.2% since the start of May.

Widespread strength today meant only a handful of stocks were in the red, with Petrofac, TUI Travel and Barclays the largest risers, each posting gains of 4%.

European indices also posted healthy gains after Asian markets ended the session higher earlier in the morning.

Germany’s Dax rose 1.1% to 8,473, while France’s CAC 40 moved 1.5% higher to 4,056.

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