FTSE up 0.51% at open

London shares climbed at the start of trading on Wednesday, taking their lead from Asia and Wall Street after US President Barack Obama threw his weight behind a plan to slash the country's deficit that could avert a devastating default. The benchmark FTSE 100 index was up 0.51 percent to 5,819.31 points in early deals. Global equities rose after Obama highlighted a new plan by a bipartisan "Gang of Six" senators that aims to slash the US budget deficit by about $3.7 trillion over 10 years and boost revenues $1 trillion by closing tax loopholes and ending some tax breaks. On Wall Street, the Dow advanced 1.63 percent while in Tokyo the Nikkei closed 1.17 percent, or 116.18 points, higher at 1,005.90. Elsewhere in Europe on Wednesday Frankfurt's DAX 30 gained 0.80 percent to 7,250.18 points, while in Paris the CAC 40 also climbed by 0.80 percent to 3,724.57.