FTSE edging closer to 5,000 level

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The UK's FTSE 100 Index moved 38.3 points closer to a 5,000-point barrier, and is now just 20 points away, thanks in particular to Tate & Lyle.

The London benchmark reached 4979.8 points after sugar firm Tate & Lyle lead the charge and added as much as 33p or 7% to 501p. Cable & Wireless also bolstered the FTSE, picking up 4.5p to 127.5p, alongside British American Tobacco which gained 30p to 972.5p after a US court decided it would not have to pay a $280bn civil claims lawsuit to the government. Both firms added at least 3% to their stock increase. Mining firms Antofagasta and BHP Billiton added 39p to 1270p and 18p to 681p respectively. United Utilities, meanwhile, led the drop, declining 11p to 462p and while energy fir...

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