FTSE adds 100 points on miner gains

Updated at 14.30: London’s FTSE has stormed through the 6,000 barrier to hit 6026, up 2.2%, as strong corporate earnings and a new record high for gold prices triggered a European rally.

Propping up London's leading share index is ARM Holdings, up over 5% on the back of a bullish report from US peer Intel, and Xstrata, up over 4%, on the back of strong copper and gold prices.

All main European markets have raced into positive territory, with Germany's Dax up 2.8% and France's Cac 40 advancing 2.3% as traders shrug off any lingering negative sentiment relating to Standard & Poor's downgrade in its outlook of US debt.

Also powering European stock markets into positive territory was news the gold price broke through the $1,500 barrier on the back of a weak dollar and eurozone debt concerns.

Meanwhile across the Atlantic the Dow has had a bright start to trading and is currently up 1.63%, or 163 points, to 12,430 as as traders reacted to positive worldwide earnings reports. Intel Corp and Untied Technologies lead the winner's boards after their results were well received.

The FTSE opened sharply higher in early trading on Wednesday following positive corporate earnings updates in the US and advancing metal prices.

London's leading index is 94 points, or 1.6%, higher at 5,991.

Sentiment was boosted by strong earnings updates in the US, with healthcare giant Johnson & Johnson, Yahoo and tech firm IBM all posting better-than-expected results.

Miners drove the improvement in London's top flight on rising metal prices. Antofagasta and Xstrata have risen 3.11% and 2.91% respectively.

However, Resolution is down 1.68% at 287.5p, having gone ex-dividend today.

In Europe, the Cac is up 1.38% at 3962.64, while the Dax is up 1.63% at 7154.37.

Meanwhile, in Asia, the Nikkei closed up 1.76% at 9,606.82.