Economics / Markets

Sluggish mining and bank stocks have dragged the FTSE100 lower this morning, currently 21.80 points (0.39%) down to 5520.

The FTSE 100 is up once again after shooting skywards this morning, rising 52.60 points (0.96%) to 5541.80.

Investor concerns over rising inflation are diminishing, to be replaced by those surrounding slowing growth, Richard Urwin, head of asset allocation & economics at BlackRock, has asserted.

The FTSE100 has started well this morning with investors buoyed by lower oil prices and a strong Wall Street session on Friday. London's blue-chip index is currently 24.50 points (0.45%) higher to 5513.70.

Travel-related companies have helped the FTSE end the day up 11.70 points (0.21%) to 5489.20, after a volatile day.

London shares opened lower after news one the of UK's biggest banks, RBS, had made a half-year loss, but the FTSE100 made a recovery by mid-morning and was down just 1.1 points (0.02%) to 5,476.4.

Having fallen from their July highs, oil prices will trade in the $100-140/barrel range in the coming months, in line with the underlying supply/demand dynamics, according to Angus McPhail, global oil and natural resources analyst at Alliance Trust.

Wall Street trading was down on opening due to a rise in unemployment and poor retail figures, with the Dow Jones index falling 107.55 points (0.92%) to 11,548.52.

HBOS data has revealed a 1.7pc dip in house prices in July, bringing the year-on-year fall to 8.8pc.

A miner-led surge has driven the FTSE100 ahead in mid-morning trading, up 0.61% to 5519.80.