FTSE back near 3-month high as ECB worries fade

The FTSE 100 has added 1.4% in early trading as investors consign yesterday's ECB disappointment to the past and await today's US jobs data.

London's blue chip index stood at 5,740 shortly before midday, a rise of 1.4% and close to the 3-month high of 5,766 seen prior to European Central Bank president Mario Draghi's press conference yesterday. France's CAC 40 rose 1.9% to 3,293 and the German Dax was up 1.7% to 6,715 as European financials also reversed yesterday's falls. Draghi's comments, which hinted at future bond buying action from the ECB but were short on specifics, sparked a sell off in equities and peripheral bonds yesterday, with Spanish 10-year yields seeing their largest one-day rise in 18 years. Having rea...