FTSE rises 1.1% as global markets rally (AFP)
01.10.2008 14:50 Business
LONDON (AFP) - London's FTSE 100 rose 1.1 percent in mid-morning trade on Wednesday, following a rally across global markets on investor optimism that the US Senate would later approve a revised financial rescue package.
The index of leading shares advanced to stand at 4,956.38 points.
Meanwhile, the Bank of England offered 30 billion dollars (16.8 billion pounds) to banking institutions on a one-week tender.
The BoE also offered a further 10 billion dollars of loans on an overnight basis to banks hit by the credit crunch.
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