FTSE muted as S&P and Nikkei reach 15-month highs

US stocks reached 15-month highs on Monday, with both the Dow Jones and S&P 500 up at least 1.5% on the first trading day of 2010.

The tech-heavy Nasdaq also climbed 1.6%, to close on its highest level in 16 months. Investors were buoyed by data showing strong growth in the manufacturing sector, along with a pullback in the dollar. Bank of America led Dow components, up 4.18% to $15.69 - while pharmaceutical giant Pfizer added 4.07% to $18.93. Japan's Nikkei average hit a 15-month closing high on Tuesday on the back of the positive US session, with the index up 0.25% to 10,681.83. The broader Topix rose 0.4% to 919.57. The FTSE 100 has opened lower however, as Kraft Foods stepped up its bid for UK giant Cad...