FTSE soars back above 6,000 after Fed cuts US rate

The FTSE 100 Index leapt 3.5% today as beleaguered investors seized on a dramatic move from US policymakers to ease credit market turmoil.

The index reversed yesterday’s slump with its biggest percentage gain since March 2003, after the US Federal Reserve announced a 0.5% cut in the rate it charges banks to borrow money.