The Dow Jones closed higher at 10611.81, up 44.51 points (0.42%), marking its third day of rises and its highest closing level since January 19.

The FTSE was sharply down in afternoon trading at 5609.61, down 30.96 (0.55%), as mining woes and disappointing US weekly jobs figures pared back yesterday's gains.

The FSA is to step up its monitoring of banks' financial health by testing them against 8.1% economic contraction, from peak to trough until 2014, and a 13.3% unemployment rate.

Microsoft boss Bill Gates has lost his place as the world's richest man, knocking veteran investor Warren Buffett into third spot.

Iceland voted no to repaying £3.4bn owed to the UK and Holland by an overwhelming majority of 93% in a weekend referendum over the costs of bailing out collapsed bank Icesave.

A transsexual is mounting a legal battle to have her pension backdated to 60, the age at which women are entitled to claim.

Across their rugged island, Icelanders are preparing this weekend to reject a deal supposed to end the bitter Icesave dispute between Reykjavik and London.

The FTSE opened higher this morning at 5,555.68, up 28.52 (0.52%), following gains in Asia and the United States overnight.

The Euro regained some lost ground today as Greece went to market with a successful sale of 10-year bonds.

Fears of a hung parliament have recently hit sterling hard, but what exactly would a hung parliament entail and why the panic?