Morning Markets: Assault on 6,000 begins

Blue chips have had a first stab at hitting the magic 6,000 level following gains in the US overnight and are regrouping after falling just one point short.

The index hit 5,999 in early trading before falling back slightly and now sits four points higher at 5,987. Insurer Old Mutual is among the early winners, followed by Sainsbury's and Kingfisher, but ARM is giving back a little of yesterday's big gains. Miners have also dipped and HSBC is off colour on fears about further monetary tightening measures in China. Oil prices closed above $90 a barrel for the first time since October 2008 yesterday following a bigger than expected decline in US crude supplies last week. That's giving BP and Royal Dutch Shell a lift this morning. Rio T...