Economics / Markets

The FTSE slumped this afternoon and closed at 6697.7p after falling 19 points, or 0.28%.

The FTSE opened this morning at 6732p after climbing 15.3 points, or 0.23%.

FIDELITY has launched Emerging Europe, Middle East and Africa fund, a Luxembourg-domiciled vehicle which is managed by Nick Price.

INVESTEC Asset Management has launched a new global fund which has the ability to go both long and short of the market.

BDO Stoy Hayward has launched the Hyde Park fund in order to focus on the prime central London residential property market.

The FTSE closed at 6716.7p tonight after rising 19 points, or 0.28%.

In London, shares were boosted by strong sales figures released in the US, which caused the Dow Jones to reach a record high, and the FTSE 100 began the day up by 17.8 points, or 0.27%, to 6,715.5.

Rio Tinto's announcement it is to pay $38.1bn in cash for Canadian aluminium producer Alcan led to major increases in mining stocks today - pushing the FTSE 100 up 82.6 points, or 1.25%, to 6697.7.

The FTSE 100 got off to a poor start this morning, dropping 11.2 points, or 0.17%, to 6603.9.

Strong performances from Whitbread and BSkyB was not enough to push the FTSE 100 higher today, with the index closing down 15.8 points, or 0.24%, to 6615.1.