FTSE surges 3% on euro plans

London’s leading shares index surged 3% today as investors cheered the long-awaited action plan from European leaders to tackle the region’s debt crisis.

Banking shares led the FTSE 100 Index 160.6 points higher to 5713.8 after leaders sealed a three-point deal to prevent the continent falling into recession and dragging global markets with it. The index gained £41.5bn.