FTSE gains despite end of US QE in sight

London’s leading share index edged up this morning, despite fears of an imminent end to US economic stimulus.

Minutes released last night from the latest Federal Reserve meeting showed some officials believe QE in the US should be ended.

The FTSE 100 was up 0.32% at 6026.37 in early trade, with Marks and Spencer Group leading the charge, up 4.06%.

Vedanta Resources gained 2.66%, followed by Rangold Resources, up 2.30%. TUI Travel was up 2.28%, while Next rose 2.17%.

Conversely, Pearson dropped 2.18%, Standard Chartered fell 0.69%, Wolseley declined 0.65%, Petrofac dropped 0.52% and Invensys fell 0.47%.

In Europe, Germany's Dax was up 0.28% to 7195.54, while France's Cac was up 0.12% to 4046.77.

On Wall Street, markets closed flat, with the S&P 500 finishing unchanged at 1,333. The Nasdaq edged two points higher, to close at 2,791.19 while the Dow Jones fell 6.13 points to 12,393.9.

Japan stocks slid, with shares in Tokyo Electric Power Company leading the fall. The Nikkei 225 was down 0.2% to 9,594.99 by midday, while the yen weakened further, falling to a six-month low of 85.52 against the dollar.