Nikkei

London markets have advanced strongly this morning on news Abu Dhabi is to bailout heavily indebted neighbour Dubai.

London investors are still wary after last week's request by Dubai World for a six-month standstill on debt repayments raised concerns about possible default.

Early trading saw the FTSE 100 fall after reaching a 12-month high on Monday.

The FTSE 100 benchmark index shot to its highest level since the day Lehman Brothers filed for bankruptcy last year.

A rise in consumer-focused shares helped to push the UK's benchmark share index ahead despite profit-taking in miners and banks.

The FTSE opened buoyantly, up more than 49 points to 5,158.28, on the back of strong performance from mining companies, due to higher metal prices because of the weak dollar.

The FTSE 100 is up 32.83 points (0.65%) at 5057.15 following some volatility in early trading, as Australia's decision to raise interest rates surprises the global markets.

London shares rose slightly in early trading, with markets still affected by weaker than expected US jobs data.

The FTSE 100 has fallen below the 5,000 point barrier for the first time since 10 September.

Shares fell in London this morning, following trends in the US after new data revealed weaknesses in the world's largest economy.