FTSE's New Year rally continues

The London market’s New Year rally showed little sign of coming off the boil today despite uncertainty over the UK’s economic prospects.

Friday’s announcement that output shrunk by an estimated 0.3% in the final quarter of 2012 has had little impact on the FTSE 100 Index, which finished last week 19 points higher at a new four-and-a-half year high. It consolidated those gains today, with the top flight down by a modest 4.9 points at 6279.4.