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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/12/china-rates-restraint-boosts-ftse.jpg"><img class="alignnone size-full" title="The FTSE 100 Index rose 35 points to 5847.9 in early trading" src="http://londonglossy.com/wp-content/uploads/2010/12/min-china-rates-restraint-boosts-ftse.jpg" alt="The FTSE 100 Index rose 35 points to 5847.9 in early trading"/></a></p>
<p>The FTSE 100 Index started the week on the front foot as traders shared relief in Asian markets that Beijing refrained from raising interest rates.</p>
<p>China&#8217;s inflation rate has jumped to a 28-month high of 5.1% but the country&#8217;s leaders wrapped up an annual economic meeting on Sunday with a pledge to control inflation while shifting the economy toward more stable, balanced growth.</p>
<p>The Nikkei and Hang Seng Index climbed by just under 1%, while the FTSE 100 Index added 35 points to 5847.9.</p>
<p>Resources stocks were the major beneficiaries of London&#8217;s rally as Kazakhmys climbed 42p to 1571p and Lonmin cheered 32p to 1889p.</p>
<p>The FTSE 250 Index was dominated by merger and acquisition activity, including at Wellstream Holdings after the oil and gas services firm backed an £800 million takeover offer from America&#8217;s General Electric.</p>
<p>GE&#8217;s latest proposal, which followed two rejected offers, caused shares in Newcastle-based Wellstream to rise 37.5p to 784.5p, up 5%.</p>
<p>Elsewhere in the energy services sector, John Wood Group announced an agreement to acquire PSN for 955 million US dollars (£600 million) and added that the deal will be significantly earnings enhancing.</p>
<p>Shares in the Aberdeen-based firm jumped to the top of the FTSE 250 Index, up 8% or 40.8p to 529p.</p>
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