Economics / Markets

Recession remains more likely than a 1930s-style depression, but it could be deep and protracted, according to Barclays Wealth's head of research and investment strategy, Michael Dicks.

The Dow Jones dived nearly 200 points in early trading today as the jubilation surrounding President-elect Barack Obama failed to fire Wall Street.

UK industrial and manufacturing output fell further in September, according to the ONS.

Election day in the US has injected a spring in the step of Wall St as the Dow Jones approaches a 3% climb after less than three hours' trading.

Shares in Halifax Bank of Scotland (HBOS) climbed almost 9% as the firm moved ever closer to its proposed acquisition by Lloyds TSB.

BT leads the floundering FTSE's decline, announcing an ‘unsatisfactory' performance in its Global Services unit, as the index falls 80.22 points (1.87%) to 4211.43.

Policymakers' recent actions will bring some relief to the credit markets, but the process will take some time, according to BlackRock's senior investment professionals.

A volatile morning on the FTSE looks to be heading in the right direction as it settles comfortably above 4,300, while a rate cut in the US fails to take the desired effect.

Investor confidence has not been dented by the recession, according to Barclays Stockbrokers.

The FTSE100 continued to climb through the afternoon as investors' spirits were raised by good earnings reports and a positive start to trading on Wall Street.