Bleak UK economy news can't stop FTSE gaining

More bleak news on the state of the UK economy failed to prevent the FTSE 100 Index from starting the year on the front foot today.

London’s FTSE 100 Index extended its post-Christmas rally with a gain of 1% or 48.4 points to 4482.8 by mid-morning, following gains in Asia after Hong Kong’s Hang Seng Index rose 2.3% and South Korea’s Kospi added 1.5%.