Economics / Markets

Trading was mixed in London this morning as banks continued to climb on news of a $1trn toxic debt plan in the US, with the FTSE100 down 6.35 points (0.16%) to 3,946.46 by mid-morning.

The markets soared stateside as the launch of the US government's programme to tackle banks' toxic debt prompted the Dow Jones to swell 275.90 (3.79%) to 7,554.28 by 11.31 EDT, continuing its two-week rally.

The FTSE 100 charged higher this morning as financials rallied in anticipation of the US Government launching its $500bn investment programme later today.

The Dow Jones closed 2.48% up yesterday after another strong session for financials, adding 178.73 points to reach 7,396.70.

US stocks rose on Tuesday following news housebuilders were far busier than anticipated in February.

The FTSE 100 has powered more than 2.5% higher this afternoon as Barclays shares continue to soar.

Barclays shares are soaring this morning as the banking giant announced it is in talks to sell its iShares business.

The Dow Jones closed up for the third consecutive session on Thursday, adding 239.66 points (3.36%) to 7,170.06 (3.36%).

Insurer Aviva continued its poor recent run on Thursday as the FTSE fell marginally into the red in early trading.

London markets were mixed as the afternoon progressed, with the FTSE100 down just 2.35 points (0.06%) to 3,712.88 shortly before 3pm.