Economics / Markets

On Wall Street, markets were slightly up after a turbulent start to trading after some positive jobs data was released.

The FTSE 100 has pared gains mid-morning after its strong start, which saw it set a new year high.

Investor confidence in stock markets has picked up following the recent rally, research by F&C Investments suggests.

The Dow Jones has tumbled in early trading, down 0.65% on the back of data showing US companies have cut more jobs than economists estimated last month.

The FTSE 100 is losing ground following early morning gains, down 0.31% (14.58 points) at 4656.79.

The Dow Jones has opened lower this morning following news US personal income has suffered the largest drop in four years.

The FTSE 100 rolled back some of yesterday's gains this morning, with Standard Chartered among the early casualties after announcing surprise plans to issue £1bn in new shares.

The FTSE 100 reached its highest level since October 2008 this afternoon, leaping more than 80 points to within touching distance of 4,700.

Miners are leading the FTSE 100 higher this morning, as Barclays announced a near £3bn pre-tax profit for the first half of 2009.

US shares gained as investors took heart from better-than-expected US GDP numbers, showing the pace of economic decline is slowing.