The FTSE 100 surged upwards during afternoon trading, finishing up 1.26 per cent to 6243.4.
The FTSE outperformed the rest of Europe, with the French CAC up 1.1 per cent, the German DAX up 0.7 per cent, the Italian MIB up 0.7 per cent, and the Spanish IBEX down 0.4 per cent.
Meanwhile, a stronger dollar is pushing down prices of precious metals, with gold approaching its worst quarterly loss on record.
An interesting stat here from Lawrence McDonald:
Largest Spikes in Currency Volatility since Lehman 2008 Aug to Nov +182% 2013 Jan to Jun +66% 2011 Jul to Sep 2011 +60% 2010 May +56%— Lawrence McDonald (@Convertbond) June 27, 2013