Big sighs of relief as Footsie bounces back

The London markets staged huge rallies after leading eurozone governments unveiled bail-out plans to recapitalise banks and reopen credit markets. The FTSE 100 soared, led by miners and selected financial stocks, after the Government announced its move to inject around £40bn into three of the country's biggest banks. Positive sentiment continued throughout the day after Germany, France and other European countries revealed plans to tackle the problems with their own banks. By the end of yesterday's session, the FTSE 100 had closed up 324.84 points to 4256.9. The FTSE 250, which is often seen as more representative of the domestic economy, also jumped 252.04 points to 7030.35. Confidence was boosted by some well-known equity strategists showing tentative signs of bullishness. In a note entitled "Time to buy a little bit more... [read full story]