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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/01/ftse-index-bounces-back-to-top-6000.jpg"><img class="alignnone size-full" title="The FTSE 100 index closed 57.7 points higher at 6014" src="http://londonglossy.com/wp-content/uploads/2011/01/min-ftse-index-bounces-back-to-top-6000.jpg" alt="The FTSE 100 index closed 57.7 points higher at 6014"/></a></p>
<p>The FTSE 100 Index has bounced back past the 6000 mark, but Marks &#038; Spencer shares slumped into the red despite news of a Christmas sales hike.</p>
<p>Strong gains for banking stocks after some upbeat broker comment helped the Footsie rise 1%, closing 57.7 points higher at 6014.</p>
<p>Concerns over the financial sector&#8217;s exposure to sovereign debt 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>On Wall Street, the Dow Jones industrial average was cheered by earnings reports after Monday&#8217;s close from aluminium giant Alcoa, which posted strong fourth quarter profits due to stronger demand and prices, and increased guidance from two major US retailers.</p>
<p>The ongoing eurozone debt issues helped the pound gain strength &#8211; rising to near its highest level in almost four months against the euro, at just over 1.20 euros.</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 10.8p to 373.2p. 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>Barclays saw shares advance 15.3p to 292p, while HSBC added more than 2% or 16.3p to 688.7p.</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 7% or 32.5p at 497.5p. 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 6% 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 122p to 2179p.</p>
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