Economics / Markets

In London, markets climbed further as a possible takeover of Lonmin hit the news, with the FTSE 100 index rising 31.6 points (0.58%) to 5,486.1.

As widely predicted, the Federal Reserve has kept interest rates on hold at 2pc, while the accompanying statement gave little clue as to its future strategy.

After an erratic start, the FTSE100 is in the black this morning, up 13.80 points (0.25%) to 5468.30 thanks to attempted takeover activity in the mining sector.

In London, falling oil prices cheered up investors and the FTSE 100 added 132.5 points (2.49%) to close at 5,452.7.

The FTSE100 is over 1% higher in mid-morning trading on a fairly volatile opening for many London blue-chip stocks. It is currently 58.40 points (1.1%) ahead to 5378.60.

Activity in the UK service sector shrank again in July, according to the latest CIPS survey.

The FTSE100 has fallen again, down by 43.40 points or 0.81% to 5311.30.

The impact of the credit crunch has already sown the seeds for a renewed house price boom from 2010, according to the cebr.

The FTSE100 has rebounded from a sluggish opening for miners to sit comfortably in the black this morning, up 41.70 points (0.78%) to 5396.40.

Business confidence amongst manufacturers has fallen across the UK, according to the latest CBI/Experian Regional Trends Survey.