Morning trading in the FTSE 100 is up just over 1% (58.51 points) led by mining stocks as investors gamble on fallout from the US market to stimulate the economy.
The FTSE 100 is trading up more than 2.3% (119 points) as the UK follows the American markets. Monday’s trading closes saw the Dow up 2.3%, the S&P 500 up 2.8% and the NASDAQ increase 3.3%.
India’s Gross Domestic Product (GDP) growth was 7.7% in the second quarter of 2011, which is India’s weakest growth for a year and a half but still slightly better than expected.
Following US Federal Reserve Chairman Ben Bernanke’s comments this afternoon the FTSE 100 has continued its decline and is currently trading down almost 92 points or 1.8%.
According to the Office for National Statistics, second quarter growth was just 0.2%, taking annual growth to 0.7%.