The FTSE was trading more than 40 points higher this morning at 5,933, its highest level since June 2008.

Cautious Managed remains the top seller on Cofunds after a strong year for the sector, accounting for 33% of net sales in November.

The FTSE had a volatile start to this week's trading as investor fears over the eurozone crisis took hold but the index is now up 0.12% to 5874.

US-based group PineBridge Investments has launched a Global Emerging Markets Corporate Bond fund into the UK retail market.

The FTSE 100 was up 1.09% or 60.17 to 5588.44 at 10.20am, shrugging off yesterday's dull showing after concerns over the eurozone debt left the index firmly in the red.

The US dollar has sunk to a fresh 15-year low against the yen after the G20 nations pledged to avoid a currency war.

Global stocks rallied on Friday on better eurozone news and stronger-than-expected manufacturing numbers in the US.

Mortgage lending by banks has hit a sixteen month low after a fall in housing demand, says the British Bankers' Association (BBA).

The FTSE dropped 0.72% to 5,535.8 in early trading as speculation over government plans to introduce a new bank windfall tax hit shares in the sector.