Economics / Markets

Financials have continued yesterday's poor showing in early trading this morning, driving the FTSE100 down 32.90 points (0.56%) to 5844.70.

The FTSE had a disappointing day of trading today, finishing 0.49%, or 29.2 points down at 5,877.6.

London markets have opened steady this morning despite seeing Wall Street suffer one of its worst sessions in a year on Friday.

Prudential has launched two new target return funds to complement its existing inflation plus 5pc fund, launched in 2005.

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.