Dow Jones

Global stocks are continuing to surge today on expectations the ECB will step up its government bond purchases to ease pressure on the ailing eurozone.

The FTSE 100 was up 1.09% or 60.17 to 5588.44 at 10.20am, shrugging off yesterday's dull showing after concerns over the eurozone debt left the index firmly in the red.

UK bank shares were being sold off this afternoon, sending the FTSE down 0.3% to 5,532.08 points, as investors fear Europe's debt crisis has not yet claimed its last sovereign victim.

The FTSE edged 0.4% higher to 5,574.98 points in early trading, recovering some of yesterday's 2.1% loss.

The FTSE 100 has fallen 1.2% this afternoon as eurozone debt fears and reports of hostilities between North and South Korea continued to dent investor sentiment.

The FTSE ignored large gains on Wall Street overnight, falling 0.35% to 5,748.45 in early trading.

The FTSE took its early lead from strong gains in Asia rather than muted US markets, up by 0.5% to 5,723.51.

The FTSE is slightly down in early trading, with RBS hit by fears it may be exposed to Ireland's economic problems.

The FTSE 100 opened positively in a week set to be dominated by a slew of US economic and political news.

Shares pulled back further on Wednesday following a blow for miners and lacklustre performances on Wall Street and in Asia.