US markets soar to pre-Lehman high

The FTSE 100 is expected to receive a powerful boost from strong US markets overnight which hit highs last seen before the collapse of Lehman Brothers two years ago.

The S&P 500 closed up 7 points at 1,254 while the Dow Jones added 55 at 11,553, to reach its highest level since August 2008. Investors are becomingly increasingly positive about the prospects for the US economy and commodity prices are rising. Increasing bid activity is also providing a prop to the market. The FTSE 100 is expected to build on an already strong week for UK shares. Within half an hour of opening today, the index was up 0.05% to 5954.74, following yesterday's 30 month high led by banks and miners. This morning's best-sellers were ARM Holdings, up 8.18% to 4436.50p, B...