- Shares in London rose strongly in early trading after yesterday dropping back below the 6,000 level for the second time this week.

A short time ago the FTSE 100 was up 122.81 points, or 2.05%, at 6,102.01. The FTSE 250 was 215.13 points higher, or 1.3%, at 16,816.4.

The major European markets were also higher with the Dax in Frankfurt having risen nearly 3% higher and the Cac in Paris up around 2.5%.

The big gains were a response to the recovery earlier today on the Chinese markets where its main index, the Shanghai Composite, closed 5% higher after falling more than 20% since the middle of last week.

In an effort to end the turmoil the People’s Bank of China had yesterday injected $21.8bn into the financial system following Tuesday's 0.25% cut in interest rates to 4.6%. It was the fifth time that interest rates in China had been cut since last November.

In the US last night there was a positive reaction to the latest moves in China and the Dow gained 620 points to close at 16,286. The Nasdaq added 192 points to reach 4,698 and the S&P 500 climbed 73 points higher to 1,941.

In Asia today, the Nikkei in Tokyo was up 197 points at 18,574 and the Hang Seng in Hong Kong had gained more than 3% to be 644 points higher at 21,607.


Recruitment group Hays (HAS) posted pre-tax profits of £156.1m for the 12 months to the end of June - up from £132,3m last time. It reported a 17% headline growth in operating profit to £164.1m despite a £9.6m foreign exchange headwind. Its shares were 1.85% higher at 157.05p.

Lamprell (LAM) was 0.48% down at 128.63p after reporting profit from continuing operations after income tax and after exceptional items fell to $20.3m in the six months to the end of JUne - down from $46.1m. The group said the results were in-line with expectations and lower year-on-year due to construction phasing and an exceptional performance in 2014.

Fyffes (FFY) was up 0.36% to 103.25p on news of strong first half results and reconfirmed its full year targets. Total revenues rose by 8.7% to €644.3m in the six months to the end of June with earnings before interest, tax, depreciation and amortisation up 12.4% at €39.5m.

Camellia (CAM) reported that its headline pre-tax losses had risen to £8.8m in the six months to the end of June - up from £3.4m a year ago. Revenues rose to £102.5m from £101.5m but the trading loss increased to £12.0m from £6.4m. Its share price dropped 0.41% to 9,535.5p.

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