Economics / Markets

Standard Life sales and the outcome of the US mid-term elections are dragging the FTSE 100 index down this morning.

Retail therapy was the order of the day on the FTSE 100 index by the end of Tuesday, superseding the strong gains felt earlier for commodity and oil stocks along with losses at Yell.

The FTSE 100 index is struggling to make any headway this morning, even though oil and metal prices are up again and Marks & Spencer has seen improved profits.

The FTSE 100 Index hit a five and a half year high today, up 79.90 points, or 1.3%, at 6,224 points, supported by insurers and miners.

The FTSE 100 Index has climbed 35.5 points, or 0.6%, to 6183.60 points this morning after an approach to buy France's Vivendi SA rekindled speculation mergers and acquisitions will increase in Europe.

The FTSE 100 has ended the day pretty flat with a slight drop of 1.2 points, or 0.02%, to 6,148.1, after a positive start on Wall Street faded away.

UK stocks are not faring too well this morning as BA has reported lower than expected profits and a falling copper price is affecting mining firms.

The FTSE 100 has ended the day practically unchanged with a small fall of 0.3 points to 6,149.3, as weak readings on the US economy limited a late rally.

The FTSE 100 is down 19.3 points, or 0.31%, to 6,130.3 in early trading as miners retreated after a fall in metal prices.

STRATEGISTS who called an end to the US small cap cycle were premature, said Robert Siddles of F&C, who thinks confidence in the economy has returned.