investment

The FTSE 100 came close to a fresh four and a half year high as it climbed 18.2 points, or 0.32%, to 5,722.6, but closed well off the day's best level as oil and tobacco shares fell.

Nearly one in three pension schemes have reduced their exposure to equities in the last year, according to the National Association of Pension Funds (NAPF).

Abbey Financial Markets and Capita Financial Managers have launched the UK's first open-ended residential property derivatives investment fund.

Scottish Life is to improve its range of external fund links to give intermediaries access to funds that are more likely to meet their client's needs, by providing a 'fund matrix'.

The FTSE 100 is starting the new year well with a rise of 51.5 points, or 0.92%, to 5,670.3, as natural resources stocks such as BP have started strongly as the gas supply dispute between Russia and Ukraine drives fuel prices higher.

The FTSE 100 has topped 5,600 for the first time since August 2001. The index is currently up 3.9 points, or 0.07%, to 5,600.9, led higher by drugmaker AstraZeneca after it said it was buying a cancer specialist firm to boost its drug pipeline.

The FTSE 100 is up 5.5 points, or 0.1%, to 5,592.9, supported by gains in leisure firm Hilton after it confirmed that bidders were interested in buying its Ladbrokes gambling arm.

The FTSE 100 has closed 39.5 points, or 0.71%, higher at 5,587, as BAE Systems leapt on news of a UK/Saudi Arabia government tie-up.

The FTSE 100 is up 26 points, or 0.47%, to 5,573.9, as mining stocks are tracking gains in Australia and BAE Systems is gaining on hopes for a Saudi Arabian aircraft deal.

The FTSE 100 index is down 4.5 points, or 0.08%, to 5,535.3, weighed down by building materials group Hanson after it forecast a weak start to 2006.