Economics / Markets

The FTSE opened sharply higher today at 5329.29, up 51.07 (0.97%), following a slight recovery on Wall Street after disastrous early trading yesterday.

Bank of England Governor Mervyn King says failure to act now on banking reforms could lead to a bigger financial crisis.

US and European markets tumbled this afternoon amid fresh concerns over the state of the US economy.

Following the market lows in early March 2009, there was a strong rally in UK equities as confidence grew throughout last year over the increasing signs of a recovery despite the economy struggling to leave recession.

Savers with money in Northern Rock will lose the government's 100% guarantee on their deposits in three months' time.

The FTSE opened marginally higher this morning, rising by 18.7 points, or 0.4%, to 5333.79.

US stock markets opened sharply lower in early trading following negative consumer and house price data.

Sterling fell sharply today after Bank of England Governor Mervyn King labeled the UK economic recovery "fragile".

The FTSE opened more than 30 points higher Tuesday thanks in part to an 11% share price jump for builders' supplier Wolseley.

Britain must not raise taxes on wealth creators any further if it wants inward investment to spur recovery, one of the world's leading competitiveness experts says.