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The Independent Online

LEADING shares closed sharply higher as worries over the outlook for US interest rates eased. The FTSE 100 closed up 138.9 points at 6,153.3.

The optimism on monetary policy triggered a sharp rebound from recent losses in banks, pharmaceuticals and telecoms. The FTSE 100 has more than recouped its 148-point drop two days ago. Traders said there was genuine buying interest but did not expect the rally to last in the short term.

Market report, page 19