Wordpress's default the_excerpt() function includes no link at the end, just [...]. This snippet adds a "Read More" permalink to the end of the excerpt.

Better Wordpress excerpt link

<?php

/* 

Add to functions.php of Wordpress theme. This function will add

    <a href="[permalink]" class="readmore">More &raquo;</a>

at the end of the excerpt.

*/

function new_excerpt_more($more) {
	return '... <a href="'. get_permalink($post->ID) . '" class="readmore">' . 'More &raquo;' . '</a>';
}
add_filter('excerpt_more', 'new_excerpt_more');

?>