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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/01/footsie-rises-as-china-worries-ease.jpg"><img class="alignnone size-full" title="The FTSE 100 Index rose by 32.4 points to 5900.4" src="http://londonglossy.com/wp-content/uploads/2011/01/min-footsie-rises-as-china-worries-ease.jpg" alt="The FTSE 100 Index rose by 32.4 points to 5900.4"/></a></p>
<p>Banking and mining stocks rebounded from recent losses as concerns over China&#8217;s monetary tightening plans faded and the London market edged higher.</p>
<p>The FTSE 100 Index was up 32.4 points at 5900.4, despite further stress for Asian markets on fears that China&#8217;s economy is overheating.</p>
<p>Economists are expecting an interest rate hike in China, as the country battles with stubbornly-high inflation &#8211; a move that would choke Chinese demand for commodities.</p>
<p>The speculation saw commodity stocks drop, while ongoing fears over the eurozone debt crisis and a weaker-than-expected show from American banks hit financials. But these concerns eased as investors shrugged off the weak sentiment and were boosted by Thursday&#8217;s strong earnings report from US bank Morgan Stanley.</p>
<p>Royal Bank of Scotland soared more than 6% after the Financial Times reported the part-nationalised bank and Treasury officials were examining ways in which the bank could secure an early exit from the government&#8217;s asset protection scheme. Shares were up 2.8p at 44.5p.</p>
<p>Morgan&#8217;s 80% jump in fourth-quarter profits lifted the sector, with Lloyds up 1.1p at 68p, and Barclays moving 1.2p to 304.5p.</p>
<p>Miners, also boosted by marginally improved metal prices, made gains, with Anglo-Swiss group Xstrata up 23p at 1411.5p, platinum miner Lonmin ahead 27p at 1771p and copper and zinc firm Vedanta Resources advancing 37p to 2409p.</p>
<p>Investors shrugged off official figures from the Office for National Statistics, which revealed retail sales volumes declined 0.8% last month &#8211; the worst December on record.</p>
<p>Blue-chip retailers saw gains despite the report, with B&#038;Q owner Kingfisher up 2p at 266.2p, Marks &#038; Spencer ahead 2.7p at 369.6p and Primark owner Associated British Foods adding 5p to 1084p.</p>
<p>Outside the top flight, shares in outsourcer Mouchel jumped 22% or 25.8p to 139.5p after construction firm Costain revealed a third takeover proposal worth more than £170 million.</p>
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