Dubai bailout sends FTSE 100 soaring

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Monday, 14, Dec 2009 05:28

The FTSE 100 got off to a storming start to the week today, up over one per cent on the news of a surprise bailout for Dubai.

At close of play the London index stood at 5,315.34 - a rise of 53.77 points, 1.02 per cent.

Leading the gains on Monday was the London Stock Exchange Group, up almost ten per cent, 69 points, to 763.5p.

The biggest loser on the day was Rexam, down 2.41 per cent to 279.10p.

The strong gains on Monday followed the announcement Abu Dhabi had agreed to provide Dubai with $10 billion in funds of which $4.1 billion will be used to aid the government-owned Dubai World.

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