Afternoon Markets: FTSE hits 21-month high

Positive employment news and a strong showing from miners helped the FTSE set a 21-month high this afternoon.

London's leading index climbed above 5,652, a gain of more than 31 points, or 0.56%, shortly after 3pm Wednesday, its highest mark since 25 June 2008, when it closed at 5,666.

It was buoyed by figures showing total UK unemployment for the three months to January fell by 33,000 to 2.45 million. This is the third monthly reading in a row to show a fall and the largest three-monthly fall for almost three years.

Miners Fresnillo and Rio Tinto made significant gains but software company Autonomy Corporation led the winners, advancing almost 4% to £18.05.

B2B security firm G4S was the biggest loser as rumours circulate a massive placing of the company's shares is underway in the City following disappointing results yesterday.

Meanwhile, the Dow Jones is currently trading 0.43% higher at 10,732.39 led by Alcoa up 4.78% to $14.46.