Economics / Markets

Continued concern over the banking sector hit London markets today, with the FTSE 100 falling a further 21.3 points (0.41%) to 5,150.6.

The FTSE100 has given up most of its strong start in mid-morning trading, with more fears for financials cancelling out the large oil price falls. London's blue-chip index is currently 7.5 points (0.15%) higher to 5,179.40.

London markets dropped severely as investors worried about the impact of the weak US mortgage market, with the FTSE 100 falling 128.5 points (2.42%) to 5,171.9.

The annual rate of CPI inflation hit a sixteen year high in June, rising from 3.3pc to 3.8pc.

Renewed concerns on the health of US banking institutions have spooked markets across the globe, with the FTSE100 sharply lower in morning trading.

The takeover of Alliance and Leicester this morning fired the FTSE ahead as markets bounced once again, but it dropped back this afternoon, with the index closing at 5300.40, up 38.8 points or 0.78%.

M&G is preparing to launch Global Dividend fund, an equity income offering which cherry-picks from publicly-listed companies worldwide.

A host of takeover offers have sent the FTSE100 skyward this morning, currently 90.60 points (1.72%) higher to 5352.20.

In London, markets climbed after losing over 2% yesterday and by mid-morning the FTSE 100 was up 39.2 points (0.73%) to 5,446.

London markets are down once again with the FTSE 100 losing 122.80 points (2.22%) to 5406.80.