Economics / Markets

Mining stocks pulled the FTSE below 4,450 on Tuesday as Rio Tinto, Xstrata, Antofagasta and Vedanta Resources fell.

Leading fund houses welcomed the MPC's decision to cut interest rates to a record low of 1.5% last week but want the Bank to go further and drop rates to 0% in the next few months.

Consumer cyclicals boasted the largest sector gains in UK markets early on Friday, up 1.42% in the wake of several retail groups announcing surprising results.

UK markets continued to fall after yesterday's dismal trading on Wall Street, and the FTSE100 dropped 1.38% to 4,445.5 shortly before 2.30pm.

The FTSE 100 unsurprisingly opened sharply lower in early trading this morning following the 245 point decline for the Dow last night.

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.