FTSE soars 1.6% on US corporate optimism

UPDATE 12pm: The FTSE 100 index has climbed almost 1.6% in morning trading after strong late gains overnight on Wall Street.

The UK index of 100 leading shares was up 81.2 points, or 1.58% to 5220.66 points by lunchtime, after a 0.2% fall on Tuesday. Investors were buoyed by a revival of optimism in the US over corporate earnings, following strong numbers from Johnson & Johnson and tech-giant Apple. Even Goldman Sachs, which reported softer numbers than expected, climbed 2.21%. Prudential shares gave a strong showing in early trading, up 14p, or 2.77%, to 520p. Miner Kazakhmys was also among the risers, with its share price up 38p, or 3.68%, to £10.72p. UK household-products maker Reckitt Benckiser ...