A shortened trading session concluded with the FTTSE 100 ahead of the Christmas break which was its 7th consecutive day in positive territory on Christmas eve

This resulted in the London’s top index having more than 300 points below its all-time high following a big loss at the beginning of the month. But, the market was able to rally in the past few days albeit the thin festive trading volumes.

Investors were provided with a lift by bumper U.S. growth figures which resulted to the world’s largest economy record annual growth of 5 % for the third quarter of 2014.

The pound had very little move against the U.S. dollar following its slide to its lowest level for 16 months at $1.55, driven lower by the downward adjustments to recent U.K. growth figures. Sterling remained flat against the euro at €1.27.

Retailer stocks went up following estimates from the Department for Business, Skills and Innovations pointed to a record year for the U.K. high street with various sales reached approximately £342billion.

Other risers included oil giant BP which was up by only a cent at 416.85p and broadcaster ITTV with a gain of 2.1p to 216.2p. The largest faller was FTSE 100 newcomer Invidior as some of the excitement close to its strong market debut began to wither.

Approaching the mid morning, the FTSE 100 index was able to rise 8.4 points at 6,606.6 in a very thin volume leading the festive break with London trading set to finish this week.

The U.K. blue chip index is still approximately 300 points short of its own all-time high following a heft loss at the beginning of this month after seeing the benchmark beat a scale down from its assault on the said peak.

On Wall Street, the Dow Jones Industrial Average was able to close above 18,000 barrier for the third quarter of the year.

The most recent gains surged the stock to one of the best performers in the FTSE 100 this year, despite the shortcomings to see the deal progress since there came along some drawbacks as well.

Defence company BAE Systems were able to add gains adding 1.3p at 473.4 after it said that it had awarded a contract amounting to $1.2 billion from the U.S. Army for Armoured Multi-Purpose Vehicles.

The pharmaceuticals business, which basically focuses on drugs to combat alcohol and cocaine addiction fell an estimated 144p. But, among the small caps, it was Chariot & Gas saw its shares propelling 23 %, 1.85p higher to 9.75p following Moroccan authorities accepted its farm out of a 25 % interest in the Rabat Deep Offshore license to Australia’s Woodside in which it already accepted most of funds it was previously contracted.

Deltex Medical shares plummeted over 30 %, plunging 2.25 % to 4.875p after it was anticipative of its full year sales to fall below the market expectations if some transactions won’t be completed before the end of the year.

The Wall Street Rally was prompted by a surprisingly strong U.S. GDP growth which assisted investors gain the lead into the Christmas holidays in a more lacklustre mood following the global market instability of the recent two weeks.

The risk enthusiasm was sharpened by a new data showing the U.S. economy having expanded at a yearly rate of 5 % in the third quarter which was the fastest pace in more than a decade as well as a robust sign that growth has resolutely shifted into a higher gear.

BP will be well focusing much better this time after Kommersant business daily allegedly is so near in a new deal with its Russian partner, state oil company Rosneft for a new development project that would expand its assurance in the country despite the intimidating sanctions imposed by the West. The oil giant’s shares were able to open 5.18p higher at 421.03p.

Still, energy stocks would come under a revamp pressure as Brent crude traded at approximately $60 per barrel, which left giving up some of the prior session gains.

U.S. GDP came in a clean 5 % clip in the 3rd quarter, which came all the more impressive when directly compared with lower revisions to U.K. growth and downturn among various parts in Europe.

Its relatively not that hard to see the reason behind the euro and pound both breaking new multi-year lows against the U.S. dollar last week and could be further expected to continue to do so towards the new year.

By 2015, the dollar will be set to benefit from the quick paced U.S. growth that is assisted by diminishing oil prices. However, the pound is now facing political uncertainty over the upcoming general election in May of 2015 and the euro is looking at the possibility of even further devaluation through the ECB balance sheet expansion.

Finally, the FTSE 100 was able to close at 21.44 points higher at 6598.18 last week with the London stock market closed for the rest of the Holiday season.