The London market finished the week on a high today as most EU countries agreed to explore plans for a closer union to get to grips with the region’s debt crisis.

Hopes that European leaders will consider new ways to fight the debt crisis, including a contained Greek default, reassured investors today.

European markets saw more volatility today as traders digested a multitrillion-pound emergency plan being drawn up to rescue the euro.

Banking stocks suffered more heavy losses today as the latest wave of market turmoil wiped another 2.5% from the value of the FTSE 100 Index.