Dow Jones

The FTSE has plunged into negative territory after disappointing US jobs data reignited fears over the economic recovery.

The FTSE has had a bright start to trading with a host of financials enjoying early gains.

The index will measure stock performance of companies engaged in exploration or production of scarce, renewable commodities and will include a Shariah compliant sub-index.

Nervous markets were further soothed yesterday as Greek MPs passed a law to implement strict austerity measures in a second round of voting.

London's leading share index has broken through the 5,800 barrier, boosted by strong showings overnight in the US and Asia, and ahead of a crucial vote in Greece.

UK shares were under pressure in early trading after sharp falls in the US caused by a sharp rise in inflation.

Woeful economic data in the US and a three notch downgrade of Greece's credit rating saw global markets tumble overnight.

The FTSE 100 was down in early trading as ongoing uncertainty about the Greek bailout hit markets and sent the euro lower against the dollar.

Bank stocks edged lower in early trading on Tuesday after credit ratings agency Moody's said it may cut its rating on 14 British lenders.

Upbeat economic data has boosted investor sentiment on both sides of the Atlantic with major European indices and the Dow all flying high in mid-afternoon trading.