FTSE rise continues as Dow jumps 1%

A sharp 1% rise for the Dow Jones in early trading has extended gains for the FTSE 100 this afternoon, as fears over Dubai debt exposures continued to wane.

The Dow Jones was boosted by growth in the manufacturing sector last month, while pending home sales increased by more than expected in October. The index was 105.73 points higher (1.02%) to 10,450.57 at 3:30 GMT. The FTSE 100 has followed the positive trend this afternoon, advancing 90 points (1.7%) to 5,280. Asia-focused bank Standard Chartered rebounded strongly as Dubai debt fears eased, up 4.92%. Mining group Fresnillo leads the blue-chip stocks, up 6.35%.