The Footsie has clawed its way back over the 5,000 level on Wednesday morning, with just four stocks registering losses, following on from a dramatic rally on Wall Street late Tuesday night. Driving the bull market in the last hour in the US - which saw the Dow swing 400 points - were reports from the Financial Times that finance ministers in Europe are looking at ways of co-ordinating recapitalisations of financial institutions. According to the paper, European commissioner for economic and monetary affairs Olli Rehn said, "There is an increasingly shared view that we need a concerted, co-ordinated approach in Europe while many of the elements are done in the member states." "Capital positions of European banks must be reinforced to provide additional safety margins and thus reduce uncertainty...This should be regarded as an integral part of the EU's comprehensive strategy to restore confidence and overcome the crisis," he said.Banking giant Barclays was the highest riser early on, gaining 5.2%, recovering after its recent sell-off: despite the comeback, shares are still over 9% lower over the last week.The miners - sensitive to swings in the global economic outlook - were among the best performers in the morning, with Rio Tinto, BHP Billiton, Antofagasta, ENRC and Xstrata making good gains.Meanwhile, weighing on investors minds will surely be the Moody's downgrade of Italy's credit rating by three notches. Among the drivers for the downgrade is the increased long-term funding risks for highly indebted countries in the Eurozone "as a result of the sustained and non-cyclical erosion of confidence in the wholesale finance environment for euro sovereigns, due to the current sovereign debt crisis," Moody's said. In other company movements in the UK, some retailing heavyweights were mixed after a number of updates. Supermarket chain Tesco was the heaviest faller after like-for-like (LFL) sales (excluding VAT and petrol) fell by 0.5% in the first half, its worst LFL performance in two decades.Rival retailer Sainsbury headed the other way after accelerating sales in the second quarter. Despite many expecting the supermarket to report a weaker second quarter than the first, when sunny weather and the UK royal wedding gave a boost to takings, sales by 7.8% in the second quarter, surpassing the 7.3% growth rate seen in the first three months of the year.In other company news, trendy fashion retailer SuperGroup saw its share price plummet over a quarter after revealing a major problem at its new Barnwood warehouse in Gloucestershire, which it estimates will cut profits by £6-9m this year.Out-of-town homewares retailer Dunelm fell after seeing like-for-like sales fall by 2% in the first quarter.Specialist healthcare firm BTG was in demand after it said that its overall financial performance in the first half has been "well ahead of expectations", helped by its Licensing & Biotechnology division.ECONOMIC NEWSThree major UK economic announcements are due out in this morning:The UK Purchasing Managers' Index Service Sector Survey is expected to have kept its head above 50 - the level that separates an expansion of activity from a contraction - in September, but only just. Market consensus forecast is for a reading of 50.5, down from August's 51.1. The final reading of the second quarter gross domestic product data for the UK is expected to show quarterly growth of 0.2%, and year-on-year growth of 0.7%. On the UK plc trading front, the second quarter current account deficit is tipped to widen to £10.6bn from the first quarter reading of -£9.4bn.FTSE 100 - RisersBarclays (BARC) 151.85p +5.20%Burberry Group (BRBY) 1,160.00p +4.22%Rio Tinto (RIO) 2,826.00p +4.18%Hargreaves Lansdown (HL.) 429.80p +4.17%BHP Billiton (BLT) 1,735.50p +4.11%Man Group (EMG) 165.40p +3.96%Antofagasta (ANTO) 936.00p +3.94%Eurasian Natural Resources Corp. (ENRC) 542.50p +3.93%Xstrata (XTA) 793.90p +3.91%Resolution Ltd. (RSL) 241.50p +3.65%FTSE 100 - FallersTesco (TSCO) 375.30p -1.26%Randgold Resources Ltd. (RRS) 6,090.00p -0.57%Inmarsat (ISAT) 471.40p -0.42%Autonomy Corporation (AU.) 2,549.00p -0.04%