S&P 500

European stocks advanced this afternoon following the US Federal Reserve's interest rate outlook, with miners driving the FTSE 100 to build on earlier gains.

Shares in Asia climbed overnight despite a stalemate in Europe as talks between Greek bondholders and politicians dragged on.

US stocks on the S&P 500 have made their best start to the year for 25 years, according to data from Bloomberg.

The number of stocks on the US stock market has reached its lowest level since 2009 as companies cut back on share sales and buy back equity at the fastest pace in four years

ON ASIA

The FTSE 100 closed at its highest level for over two months last night as world markets soared on the first day of trading in 2012.

US markets have surged this afternoon after unexpected positive German data and a drop in Spanish borrowing costs provided some respite from the ongoing eurozone debt crisis.

Shares on South Korea's main index rose nearly 1% overnight, having sold off sharply on the day of North Korean leader Kim Jong Il's death.

The FTSE 100 is down 1.2% and US markets have also opened lower as investors' hopes for a positive outcome from Friday's EU summit begin to dwindle.

European stock markets opened higher this morning ahead of a crucial eurozone meeting on Friday which could decide the future of the single currency.