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FTSE adds 110 points as global rally resumes

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28/05/2013
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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