Economics / Markets

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).

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.