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Dixons and Kingfisher unveil annual losses

Hopes that US political leaders are closer to a crucial budget deal to avoid the so-called "fiscal cliff" lifted London's leading shares index today.

President Barack Obama last night boosted confidence as he said a deal could be reached to avoid the automatic tax rises and spending cuts before Christmas.

The FTSE 100 Index was 31 points higher at 5835, following a strong performance on Asian markets with Japan's Nikkei 225, Hong Kong's Hang Seng and South Korea's Kospi all higher.

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