Economics / Markets

The FTSE100 has is currently 1% lower in early trading despite firms under a rights issue given a timely boost by the FSA. The index is 59.30 points down to 5731.20.

The FTSE has had a much better day today, rising 1.17%, or 67.2, to reach an index value of 5790.50 following yesterday's slump of 104.

Skandia has added the Aegon UK Opportunities fund to its £100m UK Equity Blend portfolio.

The MPC is unlikely to hike rates this summer, held back by deterioration in company liquidity, according to New Star's chief economist Simon Ward.

The FTSE100 has opened well this morning with financials and mining stocks leading a mini recovery for the blue chip index, currently 40.60 points higher (0.71%) to 5763.90.

Banking stocks suffered massive losses today, contributing to the FTSE100's 1.78% loss, as the index closed at 5723.30, down 104 points.

The UK is at risk of entering a period of 'stagflation', according to Mervyn King, governor of the Bank of England.

The FTSE100 has opened steady this morning despite sharp losses to homebuilders and retailers, the index is currently 3.90 points (0.07%) higher to 5831.20.

Building and banking stocks fuelled the continuing downward direction of the FTSE 100 today, as the index fell by 0.86% to 5827.3 at the close of trading.

Leonard Klahr, manager of Old Mutual's Extra Income fund, is to retire in March 2009.