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UK business confidence on the up

Signs of recovery in the financial services sector helped push confidence levels higher among London businesses since the beginning of the year, according to the latest UK business confidence survey by the Institute of Chartered Accountants in England and Wales (ICAEW). The index for London rose to 28.2 over the first quarter of 2010 compared to the UK average of 25.8, which the ICAEW attributed to the improved outlook for financial services and the influx of foreign shoppers keen to take advantage of the weak pound.