Watch the latest market update from the trading floor of City Index (http://www.cityindex.co.uk/) with Sophia Ziaee, including news of:
- European markets have extended gains on hopes EU leaders reach a decision about the debt crisis.
- The miners are leading gains on the bluechip index, boosted by the pick-up in Chinese manufacturing. Brent crude has also lifted on the news that Chinese factory output picked up in October ending a 3 month contraction.
- The FTSE has climbed nearly 40 points to 5527. UK banks Lloyds Banking Group, Royal Bank of Scotland and Barclays are also among the top risers, encouraged by the progress made on recapitalisation plans at the weekend summit.
- The French CAC has risen around 0.7% in early trading with the German DAX also up around 0.6%. French banking shares BNP Paribas and Société Générale along with Germany's Commerzbank have been among the risers in early trading.
- Markets are hopeful of a deal at the second EU summit on Wednesday, lifting the euro to a six-week high versus the dollar. Sterling was also up 0.3 % against the dollar and euro sterling has remained fairly flat in early trading.
- In other news, It is a busy week for company reporting so watch out this week for results announced from major oil and gas companies early week and pharmaceuticals at the end of the week.
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