Morning Markets: FTSE higher as China posts strong growth

Shortly after opening, London's leading share index was up 0.10%, or 5.59 points, to 5,801.

Banking stocks are among the morning's winners, following JPMorgan Chase's solid results in the US yesterday. Profits at the giant jumped 55% in Q1, fuelled by a strong showing from its investment banking business.

Royal Bank of Scotland was up 1.22% and Barclays up 1.08%.

The UK's blue chip index has been buoyed by news the Chinese economy grew by 11.9% in Q1. Global markets have also been boosted by US economic optimism from Federal Reserve chairman Ben Bernanke.

Yesterday, the Dow closed at its highest since December 2008, up 104 points to 11,123.11, with strong retail sales figures fuelling the gains.

The FTSE advanced 0.6% yesterday on the back of the positive US economic data,  breaching the 5,800 mark at one point before closing on 5,796.

Asian stocks were in buoyant mood too today, with Japan's benchmark Nikkei 225 up 0.6% and Hong Kong's Hang Seng climbing 0.4%.

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• Topics
• Economics / Markets
• FTSE 100
• Dow Jones