The FTSE just posted a huge gain

The FTSE leapt up on Thursday, posting its biggest gain for the week as China's markets were closed for a national holiday.

All major markets surged upwards today as the Chinese holiday provided a "much-desired respite from the economy and market that has been at the heart of the elevated global volatility of late," Accendo Markets analysts Mike van Dulken and Augustin Eden said in a note.

Meanwhile, European Central Bank Chief Mario Draghi signalled he would keep the Eurozone's monetary policy loose to combat the risk of deflation.

At the close, the FTSE was up 1.89% to 6,194.10.

Here's the chart:

European markets also fared well. At the time of writing, Germany's Dax share index was up almost 3%: