Dow breaks through 12,000 for first time in 31 months

The Dow Jones broke through the 12,000 level for the first time since June 2008 on Wednesday, following calls for a cut in corporate taxes and a unanimous vote by policymakers to maintain a $600bn bond-buying plan.

In a volatile session, the index came close to 12,020 before eventually closing just eight points higher at 11,985. Elsewhere, the S&P 500 closed at a 29-month high, led by gains in technology and commodity stocks. Shares rose after US President Barack Obama called for a cut in the corporate tax rate, as well as on a higher-than-expected reading on home sales. Additionally, US Federal Reserve policymakers voted unanimously to a $600bn bond-buying plan to fuel economic recovery. The FTSE opened marginally lower on Thursday following a strong Wednesday session. London's leadi...