Economics / Markets

Minutes from the MPC's August meeting have revealed a three-way split behind the decision to hold rates at 5pc.

After a near 2.5% drop yesterday, the FTSE100 is showing signs of recovery in early trading on Wednesday, advancing 47.1 points, or 0.89%, to climb to 5,367.5.

The FTSE incurred heavy losses by the close of trading on Tuesday, hindered by another poor day at the office for the Halifax Bank of Scotland (HBOS).

The FTSE100 has taken a hit in early trading, dropping 59.6 points, or 1.09%, to 5,390.8.

Friends Provident continued to be a mainstay at the top of the FTSE leader board, but the blue-chip index struggled and finished at 5,450, down 4.6 points, or 0.08%.

The FTSE100 has had a sluggish start to the week despite smart gains for the mining giants this morning. London's blue-chip index is currently 24.70 points (0.45%) behind to 5430.10.

The Dow Jones' positive run overnight rubbed off on UK stocks this morning, driving the FTSE100 29.80 points (0.54%) higher to 5527.20.

Strong resources sector performance has driven the FTSE forward, which closes, up 62.60points (1.15%) to 551120.

Another strong start for mining stocks has driven the FTSE100 higher in mid-morning trading, up 66.30 points (1.22%) to 5514.90.

London shares fell after several days of good performance as the Bank of England predicted the economy is about to stagnate, with the FTSE 100 losing 85.9 points (1.55%) to 5,448.6.