Afternoon markets: FTSE 100 closes above 5,400

The FTSE 100 index broke through the 5,400 level at the close of trading having fallen during the previous session.

The index closed 0.6% higher at 5,401, helped by double digit gains from Old Mutual and other risers in the financials sector.

Old Mutual was up 11.4% to 123.7p, Hargreaves Lansdown rose 3.2% to 434.9p, while Investec increased by 2.9% to 338p.

The top five risers was completed by engineer Weir Group, which climbed 3.9% to 1,940p, and Wolseley, up 2.7% to 1,952p.

The biggest faller was Resolution, down 2.1% to 245.7p, and was joined at the bottom by Cairn Energy, which fell 2.1% to 245.7p.

Tullow Oil and BG Group both dropped 0.9% to 1,316p and 1,316.5p, respectively. Engineering consultancy AMEC slipped 0.7% lower to 878p.

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