Economics / Markets

The UK economy grew by more than expected in Q2 of 2010, boosted by a strong performance from the construction sector.

The FTSE 100 was up 50 points, or 1%, to 5,159.25 this afternoon as data showed new claims for unemployment benefits in the US fell more than expected.

The FTSE advanced in early trading following positive overnight signs in the US and a mini rally in Asia.

Markets on both sides of the Atlantic have continued on their downward trajectory amid fears about the economic recovery.

The FTSE continued to fall in morning trading on Wednesday following yesterday's massive sell-off in global shares on escalating fears about the economic recovery.

Pimco's Bill Gross says there will be no housing-led recovery in the US without Government support.

Disappointing economic figures from the US coupled with a warning over a double-dip recession in the UK have plunged global markets further into the red in afternoon trading.

The game of "chicken" being played out by US politicians could increase the risk of a double-dip recession, Bank of America warns.

The FTSE 100 has plunged in late morning trading as renewed concerns over the global economy end the recent rally powered by M&A speculation.

The Japanese yen has hit a 15-year high against the US dollar against a backdrop of inaction by the Government.