FTSE 100

Tesco, the UK's biggest supermarket chain, has reported a drop in profits of 23.5% in the first half of its financial year.

STRUCTURED PRODUCTS

The FTSE 100 index was in the red just after midday, dragged down by mining stocks which sold-off as oil and metals prices weakened.

The year-long stock market rally faltered over the summer, its progress derailed by concerns about the Federal Reserve's intentions to tighten monetary policy.

iShares has streamlined its European ETF range and significantly reduced fees on a range of funds following the acquisition of Credit Suisse's ETF arm earlier this year.

The FTSE has jumped as much as 1.5% after the US Federal Reserve came yesterday indicated it has no plans to cut back on its quantitative easing programme at present.

The FTSE 100 will soar past its record high to reach 8,000 by the end of 2014, according to analysts at Citigroup.

LEHMANS SPECIAL

Invesco Perpetual's Neil Woodford is backing the Thomas Cook turnaround story, Investment Week can reveal, and has bought his first FTSE 100 financial since the crisis.

Analysts at the Bank of America Merrill Lynch have tipped the FTSE 100 to rise to 7,400 next year, citing the strengthening economy and an accommodating central bank as reasons why stocks can reach such highs.