Reuters: Hot Stocks: FTSE boosted by central bank assurances

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FTSE boosted by central bank assurances Feb 28th 2013, 08:11 LONDON | Thu Feb 28, 2013 3:11am EST LONDON Feb 28 (Reuters) - Britain's top shares rose on Thursday, bolstered by assurances over continued monetary support from central banks, though traders reckoned the rally would peter out given persistent jitters over the euro zone. The FTSE 100 was 30.29 points, or 0.5 percent, higher at 6,356.17 by 0808 GMT, led by banking stocks. That followed a jump of 0.9 percent in the previous session in the aftermath of a sharp sell-off on Tuesday when Italian elections ended in a stalemate. U.S. Federal Reserve bank chairman Ben Bernanke sparked a rally on Wall Street on Wednesday after he defended the Fed's asset purchases programme and downplayed signs of internal divisions. European Central Bank head Mario Draghi issued a similarly dovish set of comments. "It's reassuring that the Fed are not going to start pulling back QE (quantitative easing) any time soon... but I'm not entirely sure that this rally will continue if the Italian (situation) gets a bit more out of control," Joe Rundle, head of trading at ETX Capital, said. (Reporting by Tricia Wright; Editing by Toni Vorobyova)

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