Footsie makes modest gains in early trading

The FTSE 100 Index is up 11 points at 4437.8 after an hour's trading.

The mood of investors remains positive following yesterday's 100-point gain.

Wall Street followed London's lead last night to record 2% rises for both the Dow Jones Industrial Average and the tech-based Nasdaq.

A range of sectors are holding firm in London trading, although two Footsie stocks are creating cause for concern.

Advertising group WPP, one of only two blue-chip companies to issue results this week, has warned it may not match last year's operating margin of 14%.

It said recovery in its markets was unlikely to come for at least another year.