Economics / Markets

RAPIDLY declining market confidence is creating opportunities in Asia and emerging Europe, while problems brewing in the US banking sector are being largely ignored, according to Baring Asset Management.

In London, markets rose as it looked like the Fed would cut US interest rates and ease the sub-prime market crisis and the FTSE 100 closed up 91.3, or 1.47%, to 6,303.3.

In London, markets were up on news that George Bush will announce reforms to help sub-prime borrowers and the FTSE 100 was up 29.4 points, or 0.47%, to 6,241.4.

A morning recovery on Wall Street drove the FTSE 100 to solid afternoon gains; the index closed the day 79.8 points up, or 1.3%, to 6212.

Backed by oil firms, the FTSE has made a positive start to the day climbing 50 points, or 0.82%, to 6182.2.

The FTSE rose 10.6 points, or 0.17%, to 6112.8p this afternoon.

London is struggling this morning as falling metal prices cause miners to drill into the FTSE 100, with the index currently 30.9 points down, or 0.51%, to 6071.3.

The FTSE fell 117.9 points, or 1.9%, this afternoon to 6102.2p.

The FTSE dropped 36.6 points, or 0.59%, this morning to 6183.5.

In London, markets suffered a turbulent day but the FTSE finished up by 23.2 points, or 0.37%, to 6,220.1.