FTSE 100

BP shares have bounced back to 400p after soaring 10% on weekend reports it could face a takeover bid from ExxonMobil.

Updated 14.30 The FTSE has staged triple-digit gains in afternoon trading as banks lead the upward surge, buoyed by the Bank of England's decision to keep rates on hold at 0.5%.

The FTSE 100 is edging closer to 5,000 this afternoon as the US markets shared in today's global market rally upon opening.

SMALL CAP DIVIDENDS

EQUITY INCOME

The FTSE began to recover early losses on Thursday after the European Central Bank (ECB) revealed modest take-up of its latest short-term loan facility.

The FTSE hit a new intra-day low for 2010 in early trading on Thursday following murmurs ratings agency Moody's may downgrade the triple-A sovereign ratings on Spain.

The FTSE 100 has opened in positive territory as investors react with relief to a watered down US financial services reform bill.

INVESTMENT TRUSTS

SVM's managing director Colin McLean has boosted his funds' exposure to gold companies by about 2% this month, trimming European financials and basic resource stocks to finance the switch.