Economics / Markets

News the Clive Cowdery-led Resolution Ltd is looking to control lender Bradford and Bingley has fuelled a positive start for London markets this morning. B&B itself is 14.39% ahead this morning, to 75.50.

In London, markets made a small recovery after last week's poor trading, and the FTSE 100 climbed 46.4 points (0.83%) to 5,667.2.

Matthew Merritt, head of strategy at Insight Investment, has commented on the impact inflation is having on the global markets.

The FTSE100 has given up a strong early start in mid-morning trading, with HBOS continuing to slide below its rights issue level. The blue-chip index is currently just 4.50 points (0.08%) higher to 5625.30.

BRIC countries now account for nearly half of the world's steel consumption, according to the International Iron and Steel Institute.

Shares on London's blue chip index fell by 1.5% as yet more dismal financial news weighed on the market, and concerns grew about the still-rising price of oil.

The FTSE100 is on a downward slide this morning despite a positive opening, with downgrades denting a fine Friday start for homebuilders. The index is currently 11 points (0.19%) behind to 5697.40.

HBOS, Royal Bank of Scotland and Alliance & Leicester led the decliners in London on Thursday, as yet more fresh gloom about the UK housing market contributed to a 48.45-point, 0.8% fall in the blue chip FTSE 100 index.

Sir John Gieve is to resign as deputy governor of the Bank of England, while Charles Bean will take up a new role as deputy governor for monetary stability.

London markets have opened relatively steady this morning despite losses on Wall Street and a strong sell-off in Asia. The FTSE100 is currently 9.50 points (0.17%) lower to 5747.40.