Fears that the economic cycle is going to be dragged along the bottom for longer than previously exp...
Fears that the economic cycle is going to be dragged along the bottom for longer than previously expected has weakened the FTSE 100 index this morning, and it is down more than 35 points at 4,285.
Media company Pearson is off by 18p to 572p after warning that the advertising slump persists.
New rumours that an Australian bank may put forward a bid for Abbey National have helped its shares rise by about 12p to 736.5p, while Alliance & Leicester shares are up 15p to 845p on news it is to continued buying back shares.
Worries about the pace of rollout of new services in the mobile phone industry are leading investors to sell down Vodafone and MmO2.
The former is off by 1.5p to 96.25p, the latter is off by 1.25p to 42.25p.
BP is causing jitters in the oil sector with an 8p drop to 516.5p.
A good lead from Wall Street later today could help matters, but the signals on Friday were mixed.
The Dow Jones Industrial Average gained 33.43 points by the close to 8,745.45, but Nasdaq's Composite index shed 10.40 points to 1,306.12.
Tokyo's Nikkei 225 index is off by 251.97 points to 9,747.82, again falling further away from the important 10,000 level.
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