FTSE up 1% but poor jobs data weighs on Dow

The FTSE advanced almost 1% in late afternoon trading as investors shrugged off concerns relating to Ireland's credit rating downgrade and disappointing US economic data.

Shortly after 3:30pm, London's leading index was up 0.89%, or 50 points, to 5,686. Investors were unmoved after Fitch said Ireland would lose its AA- rating in favour of the lesser A+. It also said the unstable outlook meant it would be put on "negative watch". British Airways, fresh from announcing a long-awaited joint venture with Iberia Airlaines and American Airlines, is up 5%. Elsewhere, Anglo American and Kazakhmys were both up around 4% as metal prices strengthened on the back of a weaker dollar owing to speculation the Federal Reserve may implement a new round of quantitati...