Economics / Markets

The FTSE reached a seven-year high today as it rose 29 points to 6,750.3p.

Northern Rock led the FTSE higher, up by 0.09% to 6730.70, at the close of the week on news a consortium led by Richard Branson's Virgin planned to make a bid for the firm.

The FTSE100 began the day down 45.40 or 0.68% at 6679.10 with miners acting as the main drag on the index.

The FTSE 100 closed above 6,700 for the first time since mid-July today, finishing the Thursday session up 91.5 points, or 1.38%, to 6724.5.

The FTSE continues its steady week climbing 58 points, or 0.89%, to 6691 in early trading this morning.

In London, markets climbed as Northern Rock's share price continued to recover and the FTSE 100 was up 17.6 points, or 0.27%, to 6,633.

Shares in Northern Rock climbed in early trading today, spurred on by a pledge from Alistair Darling that the Government would release a statement concerning the troubled bank "later this week".

THE UK's economic growth will be slower than previously forecast next year, the chancellor, Alistair Darling, announced in the pre-budget report (PBR).

In London, markets closed up, helped by the recovery of Northern Rock, and the FTSE 100 was up 74.5 points, or 1.14%, to 6,615.4.

In London, recovery in the financial sector helped push markets up, and the FTSE 100 gained 32.5 points, or 0.5%, to 6,573.4.