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FTSE strongly ahead after see-saw week FTSE strongly ahead after see-saw week
(about 4 hours later)
(Open): After a week of see-sawing London's main benchmark stock market opened strongly ahead on Thursday, on the back of a positive close in China. (Open): After a week of see-sawing London's main benchmark stock market surged strongly ahead on Thursday, on the back of a positive close in China.
Not long after the open, the FTSE 100 was up 2.27% at 6115.52, with markets in Germany and France also higher. In midday trading, the FTSE 100 was up 2.24% at 6113.08, with markets in Germany and France also higher.
London stocks had fallen on Wednesday, partly reversing Tuesday's recovery from a 10-day losing streak.London stocks had fallen on Wednesday, partly reversing Tuesday's recovery from a 10-day losing streak.
China stocks rebounded on Thursday, after a punishing week, with the Shanghai Composite up 5.4% to 3,083.59.China stocks rebounded on Thursday, after a punishing week, with the Shanghai Composite up 5.4% to 3,083.59.
Top gainer was building materials group CRH, up 4.22% after it said it had grown revenues by 13% for the first six months of the year. In lunchtime trade in London Asian-focused bank Standard Chartered was top gainer, up by nearly 6% at 749.30p.
Other gainers included Standard Chartered, ARM Holdings, and Shire. Another gainer was building materials group CRH, up 4.83% after it said it had grown revenues by 13% for the first six months of the year.
In early trade there was only one faller, Dixons Carphone, which is going ex-dividend on Thursday, behind by just 0.19%. Other gainers included ARM Holdings and miners Anglo American and BHP Billiton.
Meanwhile, the pound was up 0.14% against the dollar at $1.54830 and virtually unchanged against the euro at €1.36730. There were no losers.
Meanwhile, the pound was down 0.09% against the dollar at $1.54480 and up 0.14% against the euro at €1.36940.