Economics / Markets

The FTSE had a strong start to the day up 56.10 (0.91%) to 6211.40 driven by consolidation talks in the mining sector.

The FTSE rose 1.2% to 6143.60 this afternoon thanks to gains by Morrison Supermarkets .

A strong start for supermarkets has failed to prevent the FTSE dropping value in early trading on Thursday, the index down 0.11% to 6064.

The FTSE 100 index looked perilously close to falling under 6000 on a day dominated by the high oil prices, closing Wednesday down 155.6 points, or 2.5%, to 6070.9.

The FTSE 100 is plummeting in morning trading, thumped again by a poor banking and finance sector. The index is currently on 6144.20, an 82.3 point drop, or 1.32%.

In London, market recovered from Monday's slump, with the FTSE 100 gaining 105.7 points, or 1.73%, to 6,226.5.

Confusion surrounding a potential buyout of Northern Rock has seen its shares plummet by over 25% in early trading.

In London, shares followed Northern Rock's downward spiral and the FTSE 100 closed down 170.4 points, or 2.71%, to 6,120.8.

The FTSE 100's struggles continues until close on Friday, the index dropping 68.4p, or 1.08%, to 6291.2.

In London, financial stocks continued to weigh down the markets and the FTSE 100 fell 33 points, or 0.52%, in early trading to 6,326.6.