Wall Street rises despite weak GDP data; GameStop frenzy continues - as it happened

• US growth slows to 4% in Q4; 2020 worst year for US economy since 1946
• GameStop rises again despite restrictions by online trading platforms
• Prudential to spin off US arm and mulls $3bn equity raise
• Diageo and Fever-tree thrive in tequila and cocktails boom
• Apple and Facebook beat forecasts and Tesla misses profit estimates
• Closing summary

3.22pm GMT

Most major European markets have turned positive, following in Wall Street's footsteps, with the exception of the UK's FTSE 100 index.

3.07pm GMT

New home sales in the US increased 1.6% month-on-month to 842,000 in December, below forecasts.

Adam Button, chief currency analyst at Forex Live, says:

This is a hiccup in a hot market. It's not the home-buying season and home builders, including DR Horton this week have talked about high interest and offering almost no incentives to buyers.

#UnitedStates New Home Sales at 0.842M https://t.co/Wg3ediAKM7 pic.twitter.com/CqAHzpb5po