Economics / Markets

Northern Rock again leads the FTSE although a volatile opening has led to little change, the index climbing 3.7 points, or 0.06%, to 6538.9.

DOMESTIC economic development is the key for future growth in Asian markets, according to Curtis Butler, manager of Legg Mason Asia Pacific fund.

THE Bank of England has today frozen interest rates at 5.75% as expected.

A sluggish start on Wall Street didn't hamper the FTSE too much this afternoon, as financials drove the index to a solid gain of 34.8 points, or 0.54%, to 6535.2.

In London, shares were led by Northern Rock after news of a possible takeover and the FTSE 100 was up 7.7 points, or 0.11%, to 6,508.1.

In London, shares fell slightly in a turbulent day of trading, with the FTSE 100 closing down 5.8 points, or 0.09%, to 6,500.4.

The FTSE 100 is capitalising on a strong overnight result on Wall Street and in Asia, up 31.6 points, or 0.49%, to 6537.8 in early trading.

IMPACTED by a slower US economy, Asia's (ex Japan) economic growth will ease to 8.3pc in 2008, from 8.4pc this year, according to Credit Suisse. And, while China, India and Vietnam will head the pack, rising inflation remains a concern.

The FTSE reached 6506.2p this afternoon after rising 39.4 points, or 0.61%.

The FTSE rose 0.10 points, or 0%, this morning to 6466.9p.