Afternoon markets: FTSE 100 rallies on euro hopes

The FTSE 100 index has rallied over the 5,300 mark as investors became more optimistic about the outlook for the eurozone.

The biggest climber at the end of the afternoon was engineer Weir Group, up 8.3% to 1,943p, after it had its “buy” recommendation reiterated by UBS.

Barclays was also one of the market’s beneficiaries up 7.8% to 167.85p as European leaders appeared to move closer to a resolution for the eurozone debt crisis.

Vedanta Resources was up 7.2% to 994.5p, asset manager Schroders saw its voting share class rise 6.6% to 1,284p, while miner Kazkhmys increased by 6.5% to 857.5p.

The biggest loser at the end of the day was Randgold Resources, down 7.9% to 6,240p after earlier warning of further disruption to its Tongon mine in Côte d’Ivoire.

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