FTSE closes up 180.7 points

The FTSE 100 Index soared 180.7 points to 6219 as world markets held their nerve after last week's turmoil.

Overnight gains on Asian markets set the upbeat tone before European markets and then Wall Street opened in positive territory.

Analysts said the willingness of central banks to pump more money into credit markets helped, but they warned that investors were likely to be exposed to more volatility in the coming days.

The rally was led by heavily-weighted mining stocks, buoyed by an upgrade for the sector from Credit Suisse.

Miners accounted for the top three FTSE risers with Antofagasta leading the way with a gain of 65p to 685p.

Anglo American was up 216p at 2816p, Rio Tinto up 212p at 3220p, Kazakhmys up 113p at 1195p and BHP Billiton up 87p at 1348p.

Worries over the exposure of banks to the credit crisis were partially put aside with Barclays up 20.5p at 658.5p and Royal Bank of Scotland up 19p at 581p.

Daily Mail & General Trust also featured among the riser and was up 46.5p at 687.5p.

ICI shares were up 17.5p at 642p but the stock still lagged the 670p a share offer price agreed with Dutch firm Akzo Nobel.

Imperial Tobacco shares were 66p at 2133p as the Bristol-based firm received shareholder approval for its £11 billion acquisition of Spain's Altadis.

Among the few fallers, supermarket group Sainsbury's dipped after a newspaper report said bankers behind a £7 billion financing of a takeover deal could now be getting nervous about their ability to sell the debt on given the recent crisis in global credit markets. Shares were down 2p at 547p.

B&Q owner Kingfisher was the leading faller, down 3.5p at 211.5p, while Currys owner DSG International was on the back foot before closing 0.6p up at 160p.

The biggest FTSE 100 risers were Antofagasta up 65p at 685p, Kazakhmys up 113p at 1195p, Anglo American up 216p at 2816p and Home Retail Group up 28.5p at 405.25p.

The biggest fallers were Kingfisher down 3.5p at 211.5p, Standard Life down 3.75p at 311.5p, Johnson Matthey down 14p at 1690p and Hammerson down 9p at 1246p.

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