Economics / Markets

The FTSE100 is in recovery mode this morning, with oil stocks leading the fightback from yesterday's sharp slide. London's blue chip index is currently 29.50 points (0.54%) higher to 5529.20.

In London, markets fell as concerns persisted about the effects a recession might have on corporate profits, and the FTSE 100 dropped 121 points (2.15%) to 5,499.7.

The FTSE100 fell sharply upon opening this morning, as the leisure sector struggles on gloomy news from Punch Taverns. London's blue chip index is currently 41.70 points lower (0.74%) to 5579.

Cruise ship firm Carnival helped the FTSE sail into the black on Tuesday, the blue-chip index climbing 17.9 points, or 0.32%, to 5,620.7 at the close of trading.

The recent 'mini recovery' in the US economy will be short-lived, with US growth of 1.4pc this year slipping to just 0.8pc in 2009, according to the latest global prospects report from the cebr.

A sharp $8 drop in oil prices has revived London markets this morning, with the FTSE100 currently 28.60 points (0.51%) higher to 5631.40.

In London, markets fell over further bad news regarding the economy, including the Chancellor making dire predictions of a tough recession, and the FTSE 100 dropped 33.8 points (0.6%) to 5,602.8.

The FTSE100 slipped more than 1% early this morning as miners feel the pinch of lower metal prices. London's blue chip index has recovered only slightly to currently sit 47.50 points (0.84%) behind to 5589.10.

The FTSE100 has consolidated its position above 5,600 in a positive Friday opening, currently 24.80 points (0.44%) higher to 5626.

The annual rate of inflation in the eurozone edged down to 3.8pc in August, according to Eurostat.