markets

With a lead, but not an outright win, so far in the US presidential elections going to Bush, markets in Asia and Europe have been making gains this morning, with the FTSE following suit up about 24 points to 4,718 currently.

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.

Gains were made by all but one stock on the FTSE today as investors piled in on oil price changes, sending the FTSE up 49.60 points to 4,673.80 by the close.

Gains by oil and telecoms stocks have helped the FTSE gain about 30 points to 4,653 so far today.

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.

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

As BP reported record quarterly profits the FTSE managed to add about 5 points to 4,569, helped by news from the world of advertising and consolidation moves in the insurance sector.

In the UK this morning the FTSE 100 index is trading down led by mortgage companies, HBOS and Northern Rock.