FTSE 100 pushes further up 1.76%

London builds further, but are foundations strong?

Facebook shares will cost $38 as company valued at $104bn

Social networking site Facebook has announced that it will offer around 420 million shares at $38 each valuing the firm at $104 billion.
Sainsbury's half-year profits up by 6.6% due to cost savings

Sainsbury's has revealed that its profits are up by 6.6 per cent due to cost-cutting and carefully-targeted marketing campaigns.

The FTSE 100 rose 1.76 per cent today, as the index pushed to a new year high.

At close, the index was at 5,281.54 - rising 91.30 points.

Leading the gains was Schroders - as the firm launched a new hedge fund platform.

The asset management's non-voting shares rose 5.94 per cent. Standard Schroders stock was up 4.96 per cent.

Anglo American gained 4.75 per cent and sector mate Xstrata rose 3.95 per cent as the miners put on a good showing.

British Land gained 4.04 per cent as property was also performing well.

Aviva fell 1.51 per cent - as the insurer announced the £1.1 billion listing of its Dutch subsidiary Delta Lloyd.

Aviva will retain a 57 per cent stake in the firm after the listing on Euronext Amsterdam.

Lloyds Banking was down 1.18 per cent to 92.00p.

On Wall Street, the Dow jumped in morning trading over 100 points.

At 12:01 EDT (17:01 BST), the Dow was up 1.08 per cent to 10,103.91.

The S&P 500 was up 0.99 per cent.

In Europe, the Dax was up 1.90 per cent and the Cac 40 gained 1.69 per cent.

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