FTSE soars on further US stimulus hints

The FTSE climbed 1.1% this morning to 5724.37 after rumours of more quantitative easing from the Federal Reserve gained momentum last night.

Yesterday, the Dow Jones closed up 0.09% at 11,020.40 on the back of hints the US government will pump money back into the economy. The Nasdaq also closed up by 0.65% to 2417.92 last night.

In the UK, Fresnillo shares hit 1288p after a 3.79% rise. Petrofac grew by 4.81% to 1482p, whilst Hammerson shares hit 429.4p after a 3.42% rise.

However, Standard Chartered took a tumble this morning, dropping 3.59% to 1840p following news of its $5bn equity raising plan. Burberry was also a drag on the index down 3.37% to 1004p while Barclays fell 2.64% to 287.5p.

In Asia, the Nikkei 225 closed up 0.16% to 9403.51, boosted by US QE plans. Support for machinery orders in Japan helped manufacters grow, with Fanuc rising 2.3%, Komatsu up 0.8% and Makino Milling Machine climbing 0.7%.