Economics / Markets

European shares dipped in early trading on Monday with banks reversing some initial gains after ING unveiled plans to launch a €7.5bn (£6.9bn) rights issue and split itself in two.

Following the shock news today that GDP fell by 0.4% between July and September, key figures from the finance industry give their views on what this means for the UK economy.

European markets opened up 1.0% this morning (FTSE Eurofirst 300 and FTSE 100) led by the banks and commodity stocks.

The UK economy is still in recession, official figures have revealed, with GDP falling 0.4% between July and September.

European and UK stocks opened down this morning, with the FTSE 100 losing 1.1%, reflecting the weak performance of US markets yesterday.

Sterling has leapt to a month high against the euro and dollar after hints from Mervyn King dismissing an increase in QE in November.

After falling on Tuesday, European markets opened up this morning boosted by banks and oil as investors await more corporate results.

George Osborne met about 70 staff from the FSA yesterday to discuss Conservative plans for a new regulatory structure for the City.

The FTSE 100 opened 0.5% down as banks fell on news Qatar's sovereign wealth fund had sold stock in Barclays.

European shares rose in early trading this morning, with banks adding most points to the FTSE Eurofirst 300 (up 1.0% at the time of writing); HSBC, Banco Santander and BNP Paribas gained between 1.2 and 2.3%.