Economics / Markets

In London, markets rallied as the situation improved in the banking sector, with the FTSE 100 gaining 24.8 points, or 0.38%, to 6,453.8.

In London, markets were up in morning trading as banking stocks made a slight recovery and the FTSE 100 was up 16.3 points, or 0.26%, to 6,445.3.

The FTSE fell 31 points, or 0.48%, this afternoon to 6429p.

In London, markets continued to fall as a result of problems in the banking sector, with the FTSE 100 down 52 points, or 0.8%, to 6,408.

Northern Rock made the only loss on the FTSE this afternoon, falling 46.75 points, or 15.28%, to 259.25p. The stock average rose 225.3 points, or 3.62%, to 6508.6p.

A decision by the Federal Reserve to cut interest rates in the US to 4.75% has led to a strong morning on the FTSE, the index climbing 138.7 points, or 2.21%, to 6422.

In London, markets recovered as confidence in Northern Rock eased due to Government guarantees and the FTSE 100 was up 6,283.3.

In London, markets began to rise as the UK Government gave guarantees to Northern Rock's savings customers and the FTSE 100 was up 40.4 points, or 0.66%, to 6,223.2.

The FTSE fell 1.69%, or 106.6 points, today to 6182.8p.

In London, shares fell as news of Northern Rock's emergency loan continued to rock the banking sector and the FTSE 100 lost 92.7 points, or 1.47%, to 6,196.6.