The FTSE reacted positively to news from the US of a $150bn relief plan revealed by George Bush.
Currently, the index is up 0.38% at 5897.90 buoyed by mining stocks including Kazakhmvs up 6.24% and Vedanta rising 3.63%.
However, housing stocks were a drag on the index with Taylor Wimpey falling 6.55 points or 3.20% while construction supplier Wolseley was down 23.00 or 3.05%.
UK markets will be hoping to follow in the strong gains made by US markets. The Dow Jones closed on 12378.61 up 108.44 or 0.88% as Bush’s new plan and an unexpected fall in first time jobless claims gave the US market a much needed boost. Technology companies responded particularly well including Microsoft and Xerox.
Japan also reacted positively to US news as stocks almost reached a six year high. Toyota Motor recorded its highest gains in more than four years helping the Nikkei 225 Stock Average add 536.38, or 4.1% to 13,629.16.IFAonline
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