Morning markets: FTSE 100 rises above 5,500 in early trading

The FTSE 100 index rises above the 5,500 mark in early trading as further progress is made by French and German authorities to tackle the euro debt crisis.

The biggest riser was Essar Energy, which saw share price rise by 3.8% to 237.6p (at 0806 GMT). It was joined at the top by interdealer broker ICAP, which rose 3.3% to 355.8p.

Barclays and copper miner Kazakhmys both increased by 2.5% to 181.5p and 940.5p, respectively, as engineering consultancy Amec rose by 2.4% to 90.5p.

The biggest faller (at 0806 GMT) was business software company Sage, down 0.9% to 284.7p. It was followed by insurer Admiral, which dropped 0.7% to 906p, while engineer Rolls-Royce slipped 0.1% to 733p.

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