Dow Jones

Stocks in the UK are trading down this morning with the FTSE 100 Index losing about 16 points to 4702.

Final call on the US election could yet be at least a couple of weeks away, but global stock markets are already reacting positively to Bush's as the FTSE 100 has crossed the 4700 barrier for the first time in two years.

UK stocks climbed steadily throughout the day, led by British Airways after oil prices eased again, however, all the world's eyes are on the outcome of the US election.

The FTSE 100 Index has added about 9.70 points to 4683.50 points this morning, following a day of good returns for all but one company on the exchange.

The FTSE 100 Index has broken its three-day run, trading marginally lower this morning by about 13 points to 4,629 points.

A late surge by investment manager Amvescap on top of big gains by Shell helped the FTSE gain 12.70 points to 4,642.80 by the close.

The FSTE 100 Index is up for a third day, lifted by Shell Transport & Trading on announcing that it will combine with Royal Dutch Petroleum, to simplify ownership of Europe's second-largest oil company.

Drugs giant Shire Pharmaeuticals helped the FTSE 100 index to cross the psychological 4,600 barrier again this afternoon, after announcing it has distribution approval in the US.

Man Group has got off to a flyer this morning helping the FTSE 100 benchmark to an early gain of about 15 points to 4,599 points.

The FTSE 100 index closed in the positive this afternoon. The UK benchmark reached 4583.4 points, up 18.9 points up today.