FTSE 100

Declines in metals and other commodity prices have caused global indices to report losses for Tuesday and Wednesday morning.

The dollar has plummeted to a 16-month low against the euro as markets expect the Federal Reserve to signal it will hold interest rates.

The FTSE opened sharply higher in early trading on Wednesday following positive corporate earnings updates in the US and advancing metal prices.

Global markets have marginally recovered after yesterday's surprise Standard & Poor's downgrade of the outlook for US debt caused widespread falls.

European markets rallied this afternoon after a cautious start to the week as commodity prices rebounded.

The FTSE 100 is ahead in early trading after near triple-digit losses at the end of yesterday's session, supported by banks and miners.

ON UK INCOME

The FTSE 100 opened higher this morning as the index began clawing back yesterday's losses as the Irish banking stress tests pushed investors to sell.

The FTSE 100 remains on track to make gains for the sixth day in a row, with miners powering ahead.

UK blue chip shares saw losses at opening following declines overnight in global markets.