Markets reach five-year highs

MARKETS hit their highest levels for five years yesterday, as optimism on further big M&A deals and bullish German sentiment ignited confidence.

The Dow Jones index rose to 14,035.67, the highest level seen for more than five years, while the FTSE 100 reached its highest level since the financial crisis struck, reaching 6,379.

The pound was driven down, however, hitting its lowest value against the dollar since last July.