Morning Markets: FTSE bursts to fresh year high

The UK's leading share index powered to a new year high on fresh hopes that an economic recovery in on the cards.

Optimistic comments from the US Fed chairman Ben Bernanke on Friday about the US economy and an influential survey showing a steep rise in UK business confidence pushed the FTSE up 40 points, or 0.83%, to trade at 4,890 at just past 9:30am. Miners and oil stocks topped blue chip gains, with Eurasian Natural Resources up almost 4.6% to 890.5p, silver miner Fresnillo rose 2.7% to 637.5p, while Randgold Resources gained 1.5% to 3567p. Positive sentiment also gripped Asian stocks, with Tokyo's Nikkei 225 index jumping 342.9 points, or 3.4%, to 10,581.1. Meanwhile, in the US on Friday, ...