Markets: FTSE100 bounces

FTSE 100 up 1.7% to 5,876
Gold down 0.14% to 1,087.41/oz
£/$ - 1.4158

FTSE 100

Housebuilders and insurance were among the day's top sectors. Among housebuilders, Berkeley added 4.1% and Persimmon rose 3.9%, while building supplies merchant CRH added 4%. And in the insurance sector, Old Mutual rose 3.8%, while Prudential and Admiral added 3.4% and 3.3% respectively.

TUI Travel was the day's best performer, up 5.6%.

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In Europe, the Paris CAC 40 rose 2% to 4,272, and the German Xetra Dax gained 0.3% to 9,554.

In the US, the Dow Jones Industrial Average rose 0.2% to 16,016, the S&P 500 gained 0.1% to 1,881, and the Nasdaq Composite slipped 0.3% to 4,476.

Overnight in Japan, the Nikkei 225 and the broader Topix index each slid 3.7% to 16,416, and 1,338 respectively. And in China, the CSI 300 lost 1.5% to 3,174, and the Shanghai Composite fell 1% to 2,976.

Brent spot was trading at $28.08 early today, and in New York, crude oil was at $27.61. Spot gold was trading at $1,097 an ounce, silver was at $14.10 and platinum was at $816.

In the forex markets this morning, sterling was trading against the US dollar at 1.4142 and against the euro at 1.2903. The dollar was trading at 0.9123 against the euro and 116.09 against the Japanese yen.

And in the UK, WH Smith reported a rise in sales over Christmas, and has raised its profit forecast for the year. Like-for-like sales in the five weeks to 16 January rose by 2%. Sales were driven by its shops in airports and railway stations, which grew by 5%. Sales at its High Street shops were flat.

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