Economics / Markets

US blue chips barely moved off the starting blocks in opening exchanges despite Government data showing US unemployment in August reached its highest level since 1983.

A revival in appetite for UK mining firms, spurred by a rebound in metal prices, helped to push up the UK's benchmark index in early exchanges.

US stocks pushed ahead, buoyed by financials, despite a hike in jobless figures.

The OECD has downgraded its outlook for the UK economy, saying Britain will miss out on an early global recovery.

The FTSE has opened flat despite a rally from miners and natural resources companies.

Positive US job figures failed to spur the Dow Jones in early trading on Wednesday.

Lloyds Banking Group is among the fallers in early trading on Wednesday on rumours it is close to securing a deal that will see some of its bad loans insured under the Government's asset insurance scheme.

US stocks pushed ahead in early trading on Tuesday after a report showed a revival in manufacturing activity in August following a year and a half of contraction.

UK blue chip shares fell following the Bank Holiday weekend as investors locked in profits from miners.

US blue chip stocks edged ahead in early exchanges today, echoing gains in stock markets across Europe and Asia.