Economics / Markets

A rise in consumer-focused shares helped push the UK's benchmark share index ahead despite profit-taking in miners and banks.

The Dow Jones raced to a near 75-point lead in early trading on Thursday thanks in part to strong gains from aluminium giant Alcoa.

The FTSE opened buoyantly, up more than 49 points to 5,158.28, on the back of strong performance from mining companies, due to higher metal prices because of the weak dollar.

Gold today hit an all-time high price of $1,043.77 per ounce after a dip in the dollar boosted the attractiveness of metals to investors.

Markets opened to a volatile start this morning after shares made major gains on improvements in the commodities market.

UK industrial output fell 2.5% in August, its biggest slump since January, says the Office for National Statistics (ONS).

The manager of Fidelity Multi-Asset Strategic has shrugged off his defensive stance, in the belief that early growth signs in recession-hit world economies will not fade as some analysts suggest.

The European Commission wants Royal Bank of Scotland to sacrifice up to 10 per cent of its small business customers as the penalty for receiving billions of pounds in state aid.

Financial firms may be recovering, with business volumes growing for the first time in two years, a survey has shown.

The FTSE 100 has fallen below the 5,000 point barrier for the first time since 10 September.