FTSE on the rise after Dow posts triple digit gain

London’s leading share index has broken through the 5,800 barrier, boosted by strong showings overnight in the US and Asia, and ahead of a crucial vote in Greece.

Global market sentiment is optimistic the Greek parliament will today vote through the government's five-year austerity package, in a move which will allow the country to receive another tranche of bailout money.

Despite widespread protests and riots across the country, Greek politicians are expected to push the plan of tax rises and pension reforms through.

Markets reacted favourably as a result, with the Dow Jones posting its best day of trading for two months, notching up a triple digit gain of 145 points, or 1.21%, to 12,188.

The market was also boosted by the first house price rise in the States for eight months.

In Japan, the Nikkei also rose 1.54% or 148 points to 9,797, buoyed by positive sentiment and reports utility companies will not have to contribute to the compensation plan for the Fukushima nuclear plant disaster.

Meanwhile in the UK, the FTSE is up 0.88%, or 51 points, to 5,817 at 8.30am.

Miners have opened strongly with metal prices on the rise as fears of a Greek default ease.

Antofagasta is up 1.84% or 24 points to £1.32 and Xstrata has gained 1.79% or 23 points to £1.30.