The index of 100 leading shares has closed down on the day, with major insurers the biggest drag on markets.

Federal Reserve chairman Ben Bernanke has given his strongest signal yet that he will begin another round of quantative easing in the US, to try to acheive the economic "benefits" of the UK programme.

IFA consolidator Succession Advisory Services has received FSA authorisation to arrange investment deals, though not to give advice.

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Conservative MP Harriett Baldwin has secured a debate in Parliament on the future of regulation for independent financial advisers.

Treasury minister Mark Hoban has backed the move to fee charging as advisers' contribution to rebuilding trust in Britain's financial institutions.

The FTSE continued to feed off global optimism in early trading on Thursday, extending yesterday's 1.5% gain.

The FTSE finished at its highest closing level in more than five months today as investors were buoyed by the prospect of further fiscal stimulus in the US.

The pound has fallen to a five month low against the euro amid a rising claimant count and falling consumer confidence.

HMRC has admitted millions more people than previously thought could be affected by recent PAYE problems.