Falling oil prices, a revival in the dollar and better than expected midwest manufacturing figures are pushing Wall Street higher. Shaking off earlier disappointing US jobless numbers, the Dow Jones industrial average is up around 120 points. And so the London market has tempered its losses, with the FTSE 100 down 24.7 points lower at 5520.9.
Miners are still falling, tracking declining commodities prices, but retailers have been buoyed by the better-than-expected UK retail sales figures for February.
Next and Argos-owner Home Retail Group are 3-4% higher, while among the mid-caps Debenhams has jumped 8% and DSG International - the former Dixons - is 6.6% higher.
Meanwhile, if you want an explanation of the credit crisis which avoids SIVs, CDOs and the rest, how about this, courtesy of Steve Waldman at Interfluidity.
