Economics / Markets

The FTSE made a slight recovery after huge losses overnight but is still down nearly 110p at 6250.6.

Miners have drilled into yesterdays FTSE 100 gains, effectively wiping them out in the opening minutes this morning.

The FTSE 100 had an explosive start to the day and closed in a similar way to finish up 154 points, or 2.48%, to 6360.1.

In London, shares jumped in early trading after US stocks saw a late rebound on Monday and the FTSE 100 was up 82.3 points, or 1.33%, to 6,288.4.

THE head of research at Williams de Broë, Jim Wood-Smith, has commented on what he deemed a gruesome week for the equity market.

The FTSE closed at 6215.5p today after rising 0.3 points.

The natural resources sector boosted the FTSE this morning. The exchange opened at 6231.3p after rising 16.1 points, or 0.26%.

LIONTRUST believes the recent spate of interest rate hikes and rising inflation represents a return to more normal conditions after more than a decade of the so called ‘Goldilocks economy'.

Despite the chance of a rebound earlier in the day, the FTSE closed down at the end of a difficult week for global markets.

Falls by Friends Provident, Cadburys Schweppes and Antofagasta forced the FTSE lower for the fourth day running.