FTSE up 1% on positive US jobless data

The FTSE 100 was up 0.98% or 49.85 points to 5,159.25 this afternoon as data showed new claims for unemployment benefits in the US fell more than expected.

Initial claims for state unemployment benefits fell 31,000 to a seasonally adjusted 473,000 in the week ended 21 August 2010, the Labor Department says. The FTSE had been trading near intra-day lows before the report, which also boosted shares on European bourses. Germany's Dax was up 0.56% to 5,932.59, while France's CAC 40 added 0.99% to 3,484.23. Meanwhile, companies which today announced strong first-half results led market risers. Amec was up 4.48% to 886.5p, while Kazakhmys advanced 4.47% to £11.21 and G4S rose 3.52% to 255.8p. Drinks maker Diageo was also a strong pe...