FTSE regains 4,900 as buyers return

UK markets look to set to end the week and the month on a robust note, following encouraging GDP and jobs data from the US yesterday and hopes of positive domestic GDP data later this morning.

By 9am, the FTSE 100 index had regained the 4,900 level with a jump of 31 points to 4,901, and the Mid-250 index was 56 points up at 8,758.

Banks and miners were in the van of the advance, with positive broker reviews benefiting Kazakhmys at 978p, up 41p, and Lloyds 4p better at 109p on the prospect of further asset sales.

Tullow Oil regained a further 21p to £10.74, helped by a Citigroup buy recommendation, but the loss of a US military vehicles deal after the contract ends next year overshadowed BAE Systems at 296p, down 10p.

Heritage Oil dipped 33p to 506p, its planned acquisition of Genel hindered by an FSA investigation of some of the Genel management team.

Dana Petroleum fell 32p to £14.30 in the wake of a sharp fall in profits.

Losses of £121 million over the first-half unsettled SVG Capital at 133p, down 5p, and negative comment clipped 8p from Computacenter and 2.25p from 888 Holdings at 64.5p.

Upbeat trading news benefited Restaurant Group at 193p and Melrose at 163p, up 19p and 15p. And yesterday's buoyant earnings lifted Peter Hambro Mining a further 25p to 780p.

Positive broker comment underpinned Henderson Group at 125.20p and Hiscox at 337p, up 4.20p and 8p.

Recent brighter news on the housing front reflected well on the housebuilders, where Persimmon rose 16p to 495p and Barratt Developments 8p to 246p.