Economics / Markets

London's share surge has been halted this morning after the LSE was forced to suspend trading due to a computer glitch.

After another bad day for mining and resources companies, the FTSE has tumbled 121.40 points (2.26%) to end 5240.70.

SWIP has taken a house view to move underweight the US dollar in the short-term, though it still believes that there is further scope for the currency to rise as the US economy recovers from its current slowdown.

London shares fell sharply in early trading as investor confidence was hit by stock prices plummeting across the world, with the FTSE 100 down 73.9 points (1.38%) to 5,288.2 by mid-morning.

HBOs led the FTSE's decline as the index plummeted a huge 137.6 points (2.5%) to 5362.10.

The Bank of England has held interest rates at 5pc for the fifth successive month.

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.