The FTSE 100 has posted its biggest-ever one-day percentage rise, soaring 9.84% to close up a massive 372 points at 4,153.08 with miners making huge gains. Both commodity and equities markets in the US have been encouraged by the US government US$306bn bail out of Citigroup, and this evening the Dow Jones is up 250.49 points at 8,296.91 and the Nasdaq is up 47.87 points at 1,432.22. Bank stocks in particular are making substantial gains following the news about Citigroup. It follows a late rally on Friday after the markets welcomed the appointment of New York Federal Reserve Bank head Timothy Geithner as new Treasury Secretary when the Obama administration takes power in January. The Chinese government has also announced a second stimulus package and as this is expected to boost infrastructure, demand for copper and other metals should increase prices. This evening the copper future is up 8.2% at US$170.85 a pound, while gold is up 4.16% at US$824.7 an ounce and the silver future is up 11.26% at US$10.575 an ounce. Miners dominate the top risers with Kazakhmys up 27.78% or 50p at 230p, Eurasian Natural Resources Corporation up 27.42% at 257.25p, Xstrata up 23.36% at 808.75p, BHP Billiton up 22.88% at 979.75p and Fresnillo, which specialises in silver production, up 22.79% at 128.75p. Also rising is Anglo American up 22.79% at 1,389.5p, Antofagasta up 21.42% at 430.25p and Rio Tinto up 18.07% at 2,450.5p. The only faller on the FTSE 100 today is Standard Chartered down 4.54% or 34.5p at 727.5p after it announced a rights issue this morning. Centrica is one of the lowest risers up 2.06% at 643.25p as it gives further details of its rights issue. The FTSE 250 is up 298.05 points or 5.43% at 5,789.55 led by technology components and systems producer Senior, up 40.74% or 11p at 37.25p. Miners on this index are also doing well, most notably Aquarius Platinum up 27.96% at 135.5p.

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