Economics / Markets

In London today, the FTSE has made a promising start in early trading, taking its index value to 6,060.30.

Fidelity has extended the marketing of its Active Strategy (FAST) funds to professional investors across Europe following the funds' conversion to UCITS III and completion of local market registration.

Things were looking up on the FTSE today as the index finished up 25.2 points, or 0.42%, taking it to just below the 6,000 mark at 5,995.30.

Skandia Investment Group (SIG) has transferred responsibility of running its Global Best Ideas fund from Aberdeen to Treasury Asia Asset Management.

Assumptions that food price inflation will soon become 'yesterday's issue' are misplaced, with higher global prices set to be a long-term phenomenon, according to Alastair Newton, chief political analyst at Lehman Brothers.

Banks are leading the way for the FTSE100 this morning, with concerns on US financials showing no sings of impact so far. The index is currently 22.10 points (0.37%) ahead to 5992.20.

The FTSE made a slight recovery this evening but still lost its 6,000+ status, finishing down 87.6p, or 1.45%, on 5,970.

The UK will be spared an economic downturn this year, but a recession next year or in 2010 remains possible, according to New Star's chief economist, Simon Ward.

The FTSE suffered a mini-collpase in early trading on Wednesday, dropping around 100 points by mid-day, as investors reacted to a late sell-off on Wall Street.

The FTSE shut this evening up 50.10 points, or 0.83%, finishing on and index value of 6,057.70 at the end of trading.