FTSE holds gains after US stocks reach new post-crisis high

The FTSE 100 has traded flat at the open after gaining 1.9% yesterday - a day which also saw leading US indices reach their highest levels in four years.

In the US, stronger than expected ISM manufacturing data gave the S&P 500 and Dow Jones Industrial Average another leg up after several months' worth of gains. The S&P 500 rose 0.75% to 1,419, its highest level since May 2008, while the Dow rose 0.4% to 13,264 - its highest level since late 2007. Fortunes were mixed in Asia overnight, though China's own manufacturing data, released yesterday, also helped sentiment. The Hang Seng rose 0.85% to 20,696, though Japan's Nikkei closed down 0.6% at 10,050. In Europe, the FTSE 100 was up 0.2% at 5,884 shortly before the open of the two mai...