Economics / Markets

A slide on Wall Street dragged the FTSE 100 lower in late trading; the index closed the week down 55 points, 0.83%, to 6585.2.

Mining companies drove the FTSE higher this morning with the index up 0.47% to 6,671 and the FTSE All-Share rising to 3447.25. The news was positive for the FTSE100 which has lost 0.8% this week.

THE UK economy expanded by 0.8pc in the second quarter of 2007, according to the Office for National Statistics.

The FTSE closed this afternoon at 6640.2p after climbing 73.1 points, or 1.11%.

A strong early morning for Old Mutual has seen the FTSE jump 57 points, or 0.87%, to 6624.2.

IN connection with the launch of Henderson Diversified Income Limited, the placing and offer of subscription have been closed.

The mining sector drilled a hole in the FTSE 100 this afternoon, with the index plummeting 92 points, or 1.38%, to 6567.1.

The FTSE 100 has started sluggishly this morning, despite takeover and acquisition speculation - the index is currently down 52.3 points, or 0.79%, to 6606.8.

In London, the FTSE 100 ended the day down by 38.6 points, or 0.58%, to 6,659.1 after analysts said inflation had fallen slower than expected.

In London, the FTSE 100 fell in early trading due to concerns that shares across Europe have been overvalued, down 29 points, or 0.43%, to 6,668.7.