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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/01/banking-stocks-lead-ftse-surge.jpg"><img class="alignnone size-full" title="The FTSE 100 index rose 64.7 points to 6020.8" src="http://londonglossy.com/wp-content/uploads/2011/01/min-banking-stocks-lead-ftse-surge.jpg" alt="The FTSE 100 index rose 64.7 points to 6020.8"/></a></p>
<p>A strong session for banking stocks after some upbeat broker comment ensured the FTSE 100 Index regained its position above the 6000 mark.</p>
<p>The financial sector&#8217;s ongoing sovereign debt fears were also soothed by a pledge from Japan to support Europe&#8217;s bailout efforts, while Portugal&#8217;s finance minister said he does not expect his country will need emergency support.</p>
<p>The developments helped the FTSE 100 Index rise 64.7 points to 6020.8 while France&#8217;s benchmark CAC 40 index climbed by more than 1%.</p>
<p>The Dow Jones Industrial Average was also cheered by figures after Monday&#8217;s close from aluminium giant Alcoa, which posted strong fourth quarter profits due to stronger demand and prices.</p>
<p>Elsewhere, better-than-expected trading results from high street giant Marks &#038; Spencer failed to lift its shares as a cautious outlook spooked investors and prompted shares to fall 11.9p to 372.1p. The drop of 3% came despite UK like-for-like sales growth in the 13 weeks to January 1 of 2.8%.</p>
<p>In the banking sector the mood was lifted by a note from Citigroup upgrading HSBC and the view of Societe Generale that profitability should be significantly more sustainable than the market currently expects.</p>
<p>HSBC saw shares advance 15.8p to 688.2p, while Barclays surged more than 4% or 11.55p to 288.25p and part-nationalised Lloyds added 1.1p to 66.25p.</p>
<p>Flavour-of-the-month ARM Holdings continued to enjoy a strong run as the computer chip designer surged towards the top of the risers board, up nearly 6% or 27.4p at 492.3p. The Cambridge-based firm is still benefiting from last week&#8217;s announcement from computing giant Microsoft, which intends to develop Windows-based platforms running on ARM-designed chips.</p>
<p>Wolseley jumped 7% after the building supplies firm got a boost from Citigroup and Deutsche Bank as they upgraded their target prices for the blue-chip stock. Shares responded with a rise of 140p to 2197p.</p>
<p>Capital Shopping Centres was near the bottom of the top tier, down 11.4p to 381.1p, after America&#8217;s Simon Property Group dropped its £3 billion takeover pursuit of the shopping mall owner.</p>
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