FTSE set for fourth straight month of gains as Q3 ends

The FTSE 100 has opened up 0.4% on the final day of Q3 trading as Spain's 2013 budget measures helped ease concerns over the country's economy.

Spain's intention to cut government spending by a further 8.9% next year was initially viewed positively by equity investors, European indices opening in the black following modest gains in the US and Asia before slipping back later in the morning. In the UK, the FTSE 100 has risen by 4.2% this quarter to stand at 5,801, continuing a rally that began in earnest in June, when the index bounced from a year-low of 5,320. A quarter that saw the European Central Bank commit to more aggressive monetary policy - and potentially unlimited purchases of short-dated government debt - has proved ...