FTSE reaches 52-week high

The FTSE has broken through the 5,900 barrier, up 0.56% or 32.89 to 5,904 at 3pm, to reach a 52-week high.

Defensive stocks such as National Grid and Scottish & Southern Energy have performed well and driven the index to almost its highest level for 2½-years. Amongst the top performers are BT Group, up 2.69% or 4.90 points to 187.3p. Schroders, Royal Bank of Scotland Group and Petrofac all advanced. Elsewhere, retailers have fallen victim to the snow with Next and Marks & Spencer firmly in the red over concerns shoppers may be deterred from visiting the stores because of the adverse weather conditions. British Airways has also suffered, down 0.93% or 2.5 points to 267.70p, after airpor...