FTSE 100 breaks 6,000 mark after US budget deal

The FTSE 100 index has broken the 6,000 mark for the first time in 18 months, as the US "fiscal cliff" deal of spending cuts and tax hikes, boosted confidence in the markets.

FTSE graph
The FTSE 100 had not been above 6,000 since July 2011 Credit: London Stock Exchange/Teleborsa

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Obama hails US budget deal

Barack Obama has hailed a deal to avoid a "fiscal cliff" of stark tax hikes and spending cuts. The US House of Representatives backed the bill by 257 votes to 167.