Economics / Markets

The FTSE fell 0.14%, or nine points, to 6339.5p this afternoon after investment bank Dresdner Kleinwort advised clients to sell UK homebuilder shares.

THERE is widespread concern amongst financial services firms that the credit squeeze will persist well into 2008, according to the latest CBI/PricewaterhouseCoopers Financial Services Survey.

The FTSE fell 0%, or 0.1 point, to 6348.4p this morning as analysts downgraded Schroders stocks. The asset manager fell 6.43%, or 70 points, to 1019p.

The FTSE100 took a huge hit this afternoon closing over 2% lower at 6348.50. The killer punch followed news from the US that only 18,000 jobs were created in December compared to an expected 70,000.

The FTSE opened higher up 39.80 to 6519.20 driven by bid speculation on companies including Carphone Warehouse .

The FTSE rose 1.01%, or 64.6 points, to 6481.3p this afternoon as Tullow Oil rose on growing energy prices reports. The energy company rose 5.89%, or 38 points, to 683p.

The FTSE fell 0.04%, or 2.8 points, to 6413.9p this morning as retailers dragged.

The FTSE fell 0.35%, or 22.6 points, to 6454.3p following news that Friends Provident may go up for sale. The provider rose 1.26%, or two points, to 161p.

A late rally has softened the end of week losses for the FTSE 100, with the index closing 20.90 points lower (0.32%) to 6476.90.

The FTSE 100 is slightly behind this morning as the struggle continues for financials, the index is currently 23.60 points lower (0.36%) to 6474.20.