FTSE sees surge

The FTSE 100 Index hit its highest level since mid-May today as interest rate worries which have blighted global stock markets for more than a month showed signs of easing.

The Footsie leapt 112.9 points to 5791.5, a rise of 2% as expectations ahead of the US Federal Reserve’s decision on interest rates were for a quarter of a percentage point rise, rather than the half-point hike some had feared.