Economics / Markets

The FTSE opened marginally lower on Wednesday, threatening to spoil its bid for six straight days of gains.

As Woolworths closes its final stores today, top winner Next and its high street rival Debenhams are two retailers announcing a drop in sales in the pre-Christmas period.

Financials and insurers pulled the FTSE into negative territory late on Monday after a promising start.

The FTSE 100 made tentative gains in early trading on Monday, creeping up more than 20 points, or 0.46%, to 4,582.65.

The FTSE 100 opened 2009 in positive territory with a rise of 15.07, up 0.34% to 4449.24 by 09.00 GMT.

The FTSE 100 looks set to record its worst ever annual performance despite stocks staging a late recovery in the first two trading days this week.

Mining stocks lead the way in London this morning as the FTSE 100 begins trading higher after the four-day break, up 89.04 points, or 2.11%, to 4,305.63.

The Dow Jones closed 1.18% down yesterday as investors continue to be concerned the auto bailout may not save the car companies and home prices may fall even further.

The FTSE 100 dipped this morning - falling 0.96% to 4,246.42 by 9.30am - with the LSE leading the losers.

Despite yesterdays gains on the back of a rally in retail sales, the FTSE 100 is in decline today, opening at 4,314.51 and registering losses of 1.7% by mid morning.