US markets climb on positive economic data

The Dow Jones has regained some of the ground lost yesterday as positive export data boosted the market.

The index dipped 0.37% on the opening bell before gaining 0.49% or 55 points to 11,231 at 3pm, looking to build upon its 322 point gain in yesterday's session.

Data from the US showed durable goods orders increased by 4% last month, following a 1.3% drop in June. The figures follow a string of disappointing economic data that has come out of the country in recent weeks.

In London the FTSE 100 rose 1.2% or 62 points to 5,191 in afternoon trading.

The market has shaken off Moody's downgrade of Japan's sovereign rating by one notch to Aa3, as well as weak German business data, which showed business confidence is at its lowest level since November 2008.

Elsewhere in Europe, the German Dax was up 2.89% to 5,692, while the French Cac rose 1.51% to 3,131.