The UK's 100 leading shares lost around 5% of their value yesterday in the worst day of trading sinc...
The UK's 100 leading shares lost around 5% of their value yesterday in the worst day of trading since October 1987 - excluding 11 September last year.
Bargain hunters have come back today, however, spurred on by similar events in the US yesterday when the Dow Jones Industrial Average index clawed back a large chunk of its losses during the last hour of trading - it closed down 45.32 at 8,639.19.
The Nasdaq Composite even managed to close up 9.12 points to 1,382.62 by the end of the day, defying the odds.
The FTSE 100 index is currently up nearly 20 points at 4,013, with P&O Princess and Amvescap, two of yesterday's biggest losers, currently the top two gainers.
The cruise line operator is up 29.75p to 382.75p, while the financial services provider is up 31p to 432p.
Insurer Aviva is up 25p to 400p after announcing a beefing up of investments in the Italian market.
Not a good morning for GlaxoSmithKline, however, as competitor Novartis started selling a generic alternative to the UK company's leading antibiotic - sales of $2bn are under threat.
UK mid-cap stocks are also doing better, with the FTSE 250 up about 9 points at 4,923, led by retailer Matalan, which is up 15.25p to 270.5p.
Balfour Beatty is up 11.25p to 213p one day before a London Underground strike due over PPP proposals that would see the Tube broken up under new operating management.
De la Rue, the printer of money, is the biggest loser on news that its profits have gone off a cliff compared to the previous year because there is no euro introduction to boost demand for its services - shares are down 142.5p to 303.5p.
Expectations of further declines when US markets open later today are still high in some quarters, however, due to the fall in Tokyo's Nikkei 225 index this morning, down 124. 73 points to 10,250.42 on continued fears that a weak dollar will make life more difficult for big exporters.
Hong Kong's Hang Seng index is also shedding value, currently down about 125 points at 10,456.
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