Wall Street rallies on Greece deal and confidence figures

Wall Street has moved higher in early trading, but this has done little to revive the UK market. The Dow Jones Industrial Average has climbed more than 40 points after the EU rescue package for debt laden Greece and a better than expected confidence survey. At the same time US GDP growth for the fourth quarter was revised down a little from 5.9% to 5.6%, but this was still much higher than the third quarter figure of 2.2%. But the FTSE 100 has drifted 20.58 points lower to 5707.07 as the market paused for breath after its recent rise. Elsewhere the euro rose around 0.6% against the dollar after the EU safety net for Greece, while UK gilt futures hit an 11 day low.