FTSE

In the UK, the FTSE 100 index has picked up from where it left off on Friday adding 25.5 points to 4,967 points, led by British American Tobacco.

The FTSE 100 index has shaken off a minor glitch yesterday by adding 22 points to 4930.3 points this morning, led by Allied Domecq, after a report from Wall Street Journal said Pernod Ricard SA could make an offer to purchase the company.

The FTSE 100 Index continued its push towards the 5,000 mark, adding a further 7.4 points in morning trading to 4,923.6 points.

NDF Administrations' offer of a new structured product linked to gains and losses by the FTSE 100 suggests the benchmark index is heading for a longer period of relatively less volatility.

Shares dropped across the board this morning as oil prices continued to rise in the wake of this weekend's big storms in the North East US and poor company news outweighed the good - the FTSE is down about 29 points to 4,774.

In London, stock markets closed the day down after news revealing a rise of UK inflation rates in December for the third month in a row.

Falls in the dollar may have made it more difficult to reconcile investment returns in sterling terms, however, there are some investments able to withstand the pressure.

Strong sales of plumbing supplies by Wolseley and analyst expectations of Tesco sales gains are helping push the FTSE higher by about 18 points to 4,838.

In the UK, trading has started well, boosted by a good performance in the US market.

Results from house builder Taylor Woodrow outlining less than expected profits last year have helped sap confidence this morning, sending the FTSE 100 index down about 7 points to 4,846.