UK shrugs off 500 point drop on Dow as gold hits $1,800

The UK shrugged off another brutal session in the US where the Dow Jones closed 520 points lower in overnight trading after climbing 2%.

Shrugging off steep falls in global markets and growing fears that France will be the next nation to lose its AAA status, the FTSE 100 rose 2% in early trading to 5,115, after gaining 108 points. The index, driven higher by a mix of shares, rose despite the fifth straight day losses for the Dow which closed at 10,719, a loss of 4.6%. New York's broader S&P 500 index fell almost 52 points, or 4.42%, to 1,120.72. US losses followed falls across Europe, with France's Cac 40 share index ending 5.5% lower despite the French government's assurance that its AAA credit rating was not under...