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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/01/banking-stocks-boost-ftse-100-index.jpg"><img class="alignnone size-full" title="The London market was 22 points ahead at 6036" src="http://londonglossy.com/wp-content/uploads/2011/01/min-banking-stocks-boost-ftse-100-index.jpg" alt="The London market was 22 points ahead at 6036"/></a></p>
<p>A successful bond auction in Portugal has helped ease eurozone debt worries and seen banking stocks push the FTSE 100 Index higher.</p>
<p>The London market was 22 points ahead at 6036 after Portugal managed to borrow 1.25 billion euros (£1 billion) in a bond auction which saw strong demand.</p>
<p>Many economists fear Portugal is set to follow in the footsteps of Greece and Ireland and be forced to ask for a bailout from the EU and IMF.</p>
<p>But the auction &#8211; viewed as encouraging by analysts and seen as a key test of investors&#8217; confidence in Portugal &#8211; lifted sentiment and saw some of Britain&#8217;s biggest banks make gains.</p>
<p>HSBC was up 21p at 709.7p, Lloyds was ahead 0.6p at 66.8p, while Barclays, which is heavily exposed to the Iberian peninsula, advanced more than 2% or 6.3p to 298.3p.</p>
<p>Sentiment was also boosted by Japan&#8217;s pledge to buy bonds aimed at financing Europe&#8217;s bailout fund.</p>
<p>Mining stocks had a decent session, lifted by rising metal prices, with Eurasian Natural Resources up 34p at 1112p, Vedanta adding 68p to 2479p and Kazakhmys ahead 45p at 1657p.</p>
<p>The market also reacted to a positive start to the US earnings season with the first rise for US shares in four sessions on Tuesday following a forecast-beating results performance from aluminium producer Alcoa.</p>
<p>The retail sector was once again in focus after Sainsbury&#8217;s reported better-than-expected like-for-like sales growth of 3.6% in the 14 weeks to January 8.</p>
<p>The update fuelled speculation that Sainsbury&#8217;s has overtaken Asda as the UK&#8217;s second largest supermarket, but broker Seymour Pierce kept its sell rating on the stock and said shares had a premium valuation. The stock was 9.9p lower at 380.5p, while rival Tesco fell 4.8p to 420.5p ahead of its own update on Thursday.</p>
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