European stock markets are subdued in early trading and have been unable to mirror the overnight gains made in Asia and the US.

Global markets were buoyant today as fears eased over the possibility of a nuclear meltdown in Japan.

Global markets are continuing to fight back with all the leading indices trading in the black after G7 finance ministers agreed to cool the soaring yen.

The Dow Jones posted strong gains in early trading on Thursday as a cooling operation at the tsunami-hit Fukushima Daiichi nuclear plant eased investor fears.

The Bank of England will raise interest rates from their historically low levels in May, the British Chambers of Commerce (BCC) predicts.

European Central Bank president Jean-Claude Trichet has hinted interest rates may rise next month to fend off inflation pressures.

World markets have responded positively to Brent crude futures falling by more than $3 after the Arab League said it was considering stepping in to end the crisis in Libya.

Libya unrest has driven Brent crude oil to a 29-month high of $119 per barrel, causing Asian markets to fall overnight and European stocks to slump as investors take profits.

Anthony Bolton's Fidelity China Special Situations trust has raised £166.25m in its C-Share offer, the maximum amount targeted.

China has eclipsed Japan as the world's second-biggest economy after posting GDP figures of $5.8trn for 2010, higher than Japan's $5.47trn.