Recovery hopes boost FTSE

UK stocks posted their biggest monthly gains in six years on Thursday as the rally in global equities gained fresh impetus amid hopes that the worst of the global recession is over. Banking stocks led the way as the FTSE 100 entered an official bull market, a rise of more than 20% from recent lows in March. Anthony Bolton, president of investments at Fidelity International, said the bear market appeared “to have ended.” The FTSE 100 rose 1.3% for a monthly gain of 8.1%, its biggest jump since April 2003, closing at 4,243.71, its highest since mid-February.