FTSE 100

London opened marginally weaker on Wednesday, continuing the softer trend seen towards the end of Tuesday's session, with retailers in focus in early trading.

London's leading index rose almost 150 points, or 2.48%, to reach 6,045 by late morning, buoyed by the commodities sector.

Investment trust managers are optimistic equities will rally in 2011 and 77% expect the FTSE 100 to end the year between 6,000 and 6,500, according an AIC survey.

UK shares are in indecisive mode again this morning, while Asian stocks have been hit by renewed eurozone debt fears.

The FTSE 100 closed at its highest level since 2008 last night but has fallen back in today's trading following late weakness in the US.

The FTSE edged 0.1% lower to 5,853.66 points in early trading as company-specific news guided price moves.

The FTSE 100 rose 1% to 5,871.5 points by 1.45pm today, propelled by the mining sector.

The Shanghai Composite surged 2.9%, its biggest advance since mid-October, as China held interest rates steady despite rising inflation.

US markets closed 1% ahead yesterday on a buoyant day for global shares as fears around the European sovereign debt crisis eased.

Global stocks are continuing to surge today on expectations the ECB will step up its government bond purchases to ease pressure on the ailing eurozone.