US markets dip after two-day boom

US markets have opened lower, with the S%P 500 losing ground initially as investors await consumer confidence data.

The S&P opened down 0.5%, at 1,204, as investors paused for breath after the index gained 4.4% over the previous two working days. Markets were then knocked by US consumer confidence figures that came in below expectations, the Conference Board index falling to 44.5 against a consensus figure of 52. Ahead of the release, the Dow Jones was also down 0.5% to 11,480, and the Nasdaq off 0.6% at 2,547. Meanwhile in the UK, the FTSE 100 remained resilient, standing up 2.1% at 5,239, with banks continuing to dominate proceedings. Royal Bank of Scotland remained the day's biggest riser,...