Markets rally on strong US jobs data

Global markets have rallied after a volatile day of trading following positive jobs data in the US.

The Dow Jones was up 2.73% at 11,012.08, having closed last night down 4.62%, while the S&P 500 was up 2.97% at 1,154.

Earlier, the US Labor Department revealed unemployment benefits fell 7,000 to a seasonally adjusted 395,000, the lowest level since early April and beating economists' forecasts.

In London, the FTSE was up 2.18% at 5,116.42 as it approached the end of trading.

Having initially opened healthily, it fell below 5,000 at one point, although it rallied on the positive jobs data from across the Atlantic.

Barlcays clawed back some of its losses from yesterday and was up 10.08% at 180.2p, while Tullow Oil and Essar Energy were also among the top performers.

Elsewhere in Europe, the French Cac was up 2.02% at 3063.74, while the German Dax was up 3.07% at 5785.59.