Heading into the close and the FTSE 100 has won back most of yesterday’s losses.

A rebound in commodity prices led to a rally in the mining sector today, driving London’s leading index well above the 6000 mark. Bankers were galvanised by forecast-beating results from JPMorgan, with Barclays (1.63%) benefiting the most. The index was further boosted when the ONS revealed news that UK unemployment has fallen. In the wider FTSE 250, JD Sports have bucked the dismal retail trend to report a 21% rise in profits, although followed high street rivals in warning of tough conditions ahead.

Looking across to the US, JPMorgan has outperformed expectations with a 67% rise in first-quarter profits. The news prompted a strong start for Wall Street, with investors hoping the positive sentiment can maintain momentum. Against this encouraging news, investors are looking ahead to the Beige Book due out this afternoon – any report of growth in the US economy, however moderate, will be warmly welcomed by the bulls.