Economics / Markets

In London, Friends Provident shares surged this morning as Resolution expressed interest in buying the company.

The Dow Jones slipped in early trading as worries increased over earnings and the state of the US economy.

The FTSE 100 dipped closer to the 4,000 mark this morning, with miners again dragging the index down.

The Dow Jones has risen 23.84 points (0.58%) to 8183.40 after the US aluminium giant Alcoa revealed better than expected results.

In London, markets climbed in early trade as insurers recovered from major losses on Wednesday.

The FTSE 100 slipped in early trading on Wednesday after a rocky day on Wall Street saw the Dow Jones shed triple-digit losses.

The Dow Jones has fallen significantly from opening, despite a rare piece of positive economic news.

The FTSE plummeted over 1% in early trading, dropping to 4,187 points by 8.43 this morning.

The FTSE 100 was heading upwards this afternoon after a turbulent day of trading in London, up 18.38 points (0.43%) to 4,252.65.

The worst of the economic downturn is over, but recovery is expected to be painful and sluggish, according to the Bank of England's Monetary Policy Committee.