There was more good news for British equities yesterday as a market-friendly US employment and earnings report for October fuelled a general surge in global markets.

That news, mixed with determined and sizeable advances by the big three drug stocks - Glaxo Wellcome, SmithKline Beecham and Astra Zeneca - saw the FTSE 100 briefly break through the 6,400 barrier before succumbing to frequent flurries of profit-taking which blew much of the froth off the market. The index settled 25.3 ahead at 6,356.6, having reached a session high of 6,402.0.

The FTSE 250 also got off to a decent start before falling away in mid-morning and then gathering itself for a strong run during the afternoon. It closed up 24.3 at 5,818.3.

The US report pleased the market on every count, with job creation in line with the consensus forecast and a minimal increase in hourly earnings seen as not increasing the pressure for a rise in US interest rates.