Economics / Markets

In London, trading surged in the late afternoon to put the FTSE 100 up 73.1 points (1.32%) to 5,601.2 after good news emerged from across the Atlantic.

Recession in the UK is a "nailed-on certainty" and is likely to last into next year, according to Ian Williams, manager of the City Financial Strategic Gilt fund.

The FTSE 100 has plunged 24.60 points (0.44%) this morning to 5503.50, with mining and resources companies leading the fall.

Shares in London rallied after a sell off in early trading, with the FTSE 100 closing up 57.4 points (1.05%) to 5528.10.

The FTSE100 has opened lower this morning on a busy reporting day for UK listed companies; the index is currently 13.60 points (0.25%) behind to 5457.10.

Shares in London recovered in the afternoon after a major sell off in early trading, with the FTSE 100 closing down 34.9 points (0.63%) to 5,470.7.

The FTSE100 is more than 2% down this morning after renewed concerns for US financials sent Wall Street sharply lower overnight. London's blue chip index is currently 113.90 points (2.07%) down to 5391.70.

The UK economy stalled in Q2, according to the latest official data from the ONS.

Lloyds TSB Group and Halifax Bank of Scotland (HBOS) led the financials fight back on Friday, as the FTSE soared.

Shares in Lloyds TSB tumbled in early trading on Thursday on the back of reports it has raised its stake in troubled lender Bradford & Bingley (B&B).