Dow Jones

Banks led the FTSE to an early gain in Thursday trade following reports Bank of America (BoA) is poised to repay its $45bn US Government bailout.

A sharp 1% rise for the Dow Jones in early trading has extended gains for the FTSE 100 this afternoon, as fears over Dubai debt exposures continued to wane.

London's leading shares have started the day positively as investors shake off concerns surrounding the fallout from Dubai.

London investors are still wary after last week's request by Dubai World for a six-month standstill on debt repayments raised concerns about possible default.

European shares were lower this morning in early trading (FTSE Eurofirst 300 -0.6%; FTSE 100 -0.6%).

In London, shares opened up strongly this morning with the FTSE 100 up 1.7%, as miners and energy stocks were driven by buoyant commodity prices.

US equities finished higher in another round of fairly quiet trading on Wednesday, underpinned by upbeat economic data out of China and Japan overnight.

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Early trading saw the FTSE 100 fall after reaching a 12-month high on Monday.

The FTSE 100 benchmark index shot to its highest level since the day Lehman Brothers filed for bankruptcy last year.