The final estimate of UK second quarter GDP has seen growth left unrevised at 0.7%, with the annual rate of growth being revised downwards.
US hedge funds moved to snap up shares in Lloyds Banking Group overnight as the UK government put its 6% stake up for sale in a move to begin privatising the bank.
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.
Shares in taxpayer-backed Lloyds Banking Group soared to a five-year high yesterday amid speculation the government is poised to start selling its stake.
The future of the UK economy may not be as bright as some have predicted, with the weakest recovery in 'industrial history' limiting annual growth to 1% in the longer term, according to a thinktank.
The economy is "turning a corner", Chancellor George Osborne is expected to say in an upbeat speech later today.