FTSE above 4600 in early trading

The FTSE has recovered 28 points to 4556.9

The London market has crossed the 4600 threshold as investors looked for a record-breaking 12th win for the top-flight.

If the Footsie finishes in positive territory it will beat the previous longest run to mark the best series of gains since the index began in 1984.

The FTSE 100 Index was up 21.9 points at 4607.9 in the first hour of trade

Its rise follows a late surge for the London market and positive finishes for Wall Street and some Asian markets.

In London, Lloyds Banking Group gained almost 4% in the wake of news that Sir Win Bischoff is to become its next chairman. Shares rose 3.09p to 86.42p.

Both Lloyds and Royal Bank of Scotland climbed the risers board amid pressure on the sector to lend more money to business. RBS added 0.93p to 44.69p.

Oil major BP was virtually flat with a 0.15p fall at 518.85p after it said profits were down 53% to 3.14 billion US dollars (£1.9 billion) between April and June. The firm said it continued to steer "a steady course through choppy waters".

Meanwhile, doorstep lender Provident Financial saw a 4% fall despite reporting a hike in half-year profits to £53.1 million as it came under fire for charging "extortionate" interest rates. Shares fell 34.5p to 820.5p.