Morning Markets: FTSE hits highest level since Lehmans

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

The index jumped more than 1%, or 55 points, to 5,216.89 in early exchanges, as optimism over Wall Street's strong run last week spread. The Dow Jones Industrial Average in New York finished up 78 points to 9,864.94 on Friday, climbing 4% over the week - the best performance since July. Telecoms stocks, including Vodafone and satellite navigation group Immarsat, led the index higher. Vodafone rose more than 3% after reporting its intention to move its shares listed on the New York Stock Exchange to the Nasdaq to cut listing fees. Also in favour were Standard Chartered and Old Mu...