Market overview: Sharp rise in bank stocks after FPC leverage ratios announcement

1630:Close Stocks ended the week with a sharp rise after the Bank of Japan sprang a surprise on unsuspecting markets, although speculation regarding the possibility of such a move had been building up for some time now. Miners were lower as the dollar strengthened to a four-year high, sending gold futures 2% lower. Banks registered large upside moves after the FPC announced less stringent than expected regulations for lender’s capital requirements. IAG was flying high after raising its profit guidance. FTSE 100 up 83 points to 6,547.

1602: Analysts at Charles Stanley have reiterated their "accumulate" recommendation on shares of Anglo American, while reiterating a switch into BHP Billiton "to reduce risk".

1414: UK banking stocks, already aided by strong results from RBS this morning, have reacted positively to new rules from the Financial Policy Committee, which require the country's largest lenders to have a leverage ratio (non risk-weighted) of 4.05%. This was the lower end of the 4-5% threshold expected by the market. RBS is up 5.1%, Barclays has jumped 7.2% while Lloyds has risen 2.3%.

1413: The Bank of Japan's (BoJ) unexpected policy decision to ease its monetary policy further is still reverberating through global capital markets. Euro/dollar is moving lower by 0.74% to 1.2517 while front month Brent crude futures are down by 1.79% to $84.72 per barrel in NYMEX trading. Gold futures for December delivery meanwhile are dropping 2.72% to $1,166 per ounce on COMEX.

355: The ‘final’ reading on the University of Michigan’s consumer confidence index came in at 86.9 points for the end of October, besting the 86.4 forecast by economists.

1345: The US Chicago PMI for the manufacturing sector shot up to a reading of 66.2 for the month of October, versus a reading of 60.5 for the month before (consensus: 60).

1230: Personal income and spending increased by 0.2% month-on-month in September but consumption expenditures were off by 0.2%.

1022: The Nikkei 225 index in Tokyo has finished 4.8% higher at 16,414, its highest in seven years after the surprise move by the BoJ to ramp up stimulus.

1000: Eurozone annual CPI inflation rose to 0.4% in October from 0.3% in September, as expected by the market. The core rate fell to 0.7% from 0.8%. Other data showed that the unemployment rate for the single-currency region was unchanged at 11.5% in September, in line with estimates.

0928: RBS said that operating profit, excluding restructuring, litigation and conduct costs, rose to £2.34bn from £1.95bn the year before. According to Ian Gordon from Investec, the consensus forecast for adjusted operating profit was just £2bn. He hailed the bank's "great year of balance-sheet repair", but kept a 'hold' rating on the stock, saying that its strategic progress is largely in the price. The stock is up 3.4%.

0915: SuperGroup is a heavy faller on the FTSE 350 after a profit warning. In a Q2 update, the company said that sector discounting and warm weather means that full-year profits will be £60-65m, compared with market forecasts of £69-73m. 70-80% of SuperGroup's full-year profit is expected in the second half.

0830: UK stocks have opened on the front foot with the FTSE 100 up 54 points at 6,517, helped by decent gains from IAG, RBS and Direct Line. IAG lifted its profit guidance for the full year; RBS swung to a profit of £1.3bn from a loss the year before; Direct Line said that motor premiums were continuing to stabilise. Sentiment was also helped by the Bank of Japan which today expanded its bond-buying plan in a bid to revive growth. The unexpected move sent the Nikkei over 5% higher and the yen close to a seven-year low against the dollar.