Economics / Markets

London markets have opened well this morning with strong pharma and resource stocks fighting off stunning losses to M&S and the retail sector. The FTSE100 is currently 22.90 points higher (0.42%) to 5502.80.

US stock prices should "grind higher" in the second half of 2008, according to Bob Doll, global CIO of equities at BlackRock.

A rapid decline on the FTSE has seen the index ship more than 124 points, or 2.2%, to slump to 5,501.7.

Net retail sales of funds grew for the fourth month running, with inflows of £653.3m according to the latest IMA statistics.

The credit crunch will continue to create difficult investment conditions for the next two to three years, according to Nicola Horlick, chief executive of Bramdean Asset Management.

Profitability amongst financial services firms fell at a record pace in the three months to early June, while business volumes declined at the fastest rate in 17 years, according to the latest Financial Services Survey from the CBI and PricewaterhouseCoopers...

London markets opened better than expected this morning allaying fears stocks could follow another Wall Street slump on Friday. The FTSE100 is currently 18.10 points (0.33%) ahead to 5548.00.

Mining and oil stocks helped London's blue chip index to close just above flat - up a scant 5.87 points, or 0.1% -- as oil prices rose again, and traders contended with earlier falls on Asian markets and declines on the Dax and CAC-40.

London markets have opened lower again this morning after record oil prices and financial concerns led to 24-hours of carnage for global indices.

Shares in the London Stock Exchange Group (LSE) plunged almost 13% to 828.5 on Thursday.