Footsie rallies round to nearly break 4000 barrier

THE FTSE 100 Index staged a spirited attempt to break through the 4000 barrier yesterday as bargain hunters flocked to the beleaguered banking sector.

By the close the Footsie had put aside several days’ losses to rally almost 3% or 105.9 points from Friday’s nine-week low to reach 3984.

Heavyweight banking stocks led the way as investors decided to make the most of the recent sell-off caused by fears of rising bad debts.