Economics / Markets

STANDARD & Poor's has gone live with three new benchmark and investable indices designed to provide access to Africa's developing equity markets and measure their performance.

The FTSE is once again over the magic 6,000 mark as stocks including AMEC and ITV drive the index upwards.

The FTSE fell 6.6 points, or 0.11%, to 5977.3 as Alliance & Leicester led losses on news it has raised mortgage rates for the second time this week.

INDUSTRY commentators have been largely supportive of today's decision by the Monetary Policy Committee (MPC) to cut interest rates by 0.25pc to 5pc, though warn that more action may be required in the months ahead to combat inflation.

The FTSE stumbled in early trading, slipping 3.6 points, or 0.06%, to 5,980.3 after reports of a record low for the Great British Pound (GBP).

An early slide on Wall Street sent the FTSE 100 index into the red this afternoon, it fell 6.30 points (0.11%) to 5983.90.

The FTSE 100 has opened weaker this morning as the gloomy IMF forecast for UK economic prospects surrounds the city. The index is 23 points lower (0.38%) to 5967.20.

In London, markets closed down after the Halifax released figures showing major problems in the housing market and the FTSE 100 dropped 41.7 points (0.69%) to 5,973.1.

In London, markets fell in early trading, mirroring other European markets, and the FTSE 100 dropped 52.4 points (0.87%) to 5,962.4.

The FTSE rose 53.9 points, or 0.91%, to 6,001 as commodities stayed strong this afternoon.