FTSE 100

The Dow Jones Industrial Average - one of the two most quoted indices in the US - has hit a record high above 14,200 points, surpassing its 2007 peak.

The UK's blue chip index is trading back near a five-year high this morning after a near 1% gain, as a bumper set of results lift shares.

EQUITY MARKETS

Banking stocks continued to pull back the FTSE 100 on Monday, as the losses announced by Lloyds Banking Group last week continued to dog the group and its peers.

Banking shares dragged the UK's leading index lower in morning trading following results from Lloyds Banking Group which revealed a £570m loss for 2012.

London's leading share index has made modest gains throughout the day, held back by heavy losses from Royal Bank of Scotland and a number of miners.

Outsourcing giant Capita has made no further provision for Arch cru liabilities in its latest set of results.

Jupiter has been tipped as a likely winner in the asset manager space as the gap between those who receive advice and those who do not widens and pushes more consumers to self-invest.

US shares fell for the second day running overnight as investors continued to take profits after the recent run-up to multi-year highs.

The FTSE 100 tumbled nearly 2% in morning trading after the US Federal Reserve spooked markets yesterday by warning it may slow its asset purchase programme.