European markets recover from 2 year closing lows

<p>With a mixed trading session yesterday, the FTSE gained a healthy 54 points to 5156. This is despite European bourses hitting a two-year closing low. […]</p>

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  • With a mixed trading session yesterday, the FTSE gained a healthy 54 points to 5156.
  • This is despite European bourses hitting a two-year closing low.
  • This morning however, Europe is looking stronger.
  • The Dax is up over 100 points, while the FTSE is up 102 points to 5259.
  • This is despite UK house prices falling 1.3% on average, month-on-month data released this morning showed.
  • As equity buying drives the market today, gold has sold off over $28, which has forced Randgold Resources to drop 1.5%, making it the biggest faller this morning.
  • Leading the FTSE is Essar Energy, up 4.5% while Weir Group is also up 4.5%.
  • Banks are all in positive territory again, with Lloyds and RBS both up 4% this morning.

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