Markets muted following Thursday's global surge

The S&P 500 closed 1.28% or 15 points up at 1,221, while the Dow Jones ended the day 0.95% or 106 points ahead at 11,362 on hopes of a bailout of other European countries, following in the footsteps of Ireland. The FTSE 100 climbed 2% or 125 points higher to 5,767 yesterday, but this morning it was down 0.29% at 5,751, with the FTSE 250 and the All Share showing similar falls. Global shares slumped yesterday as European Central Bank president Jean-Claude Trichet signalled the bank would resist pressure to instigate a bond buying programme. However, there was a rally later as market...