Dow Jones

Today's budget announcement by chancellor Gordon Brown did nothing to lift the UK stock markets today as the FTSE 100 fell over 1% by close of business and headed back towards the 4,900 mark.

The UK stock markets are tentatively waiting for the chancellor's pre-election Budget speech later today before making any significant moves, as the FTSE 100 is already down under the 5,000 mark again this morning.

The FTSE is back over the 5,000 mark, paced by firms in the energy sector, including United Utilities.

In the UK today, the FTSE 100 index has lost further ground at its close a short while ago, as the number of stocks sliding far outweighed those making any gains.

The FTSE 100 index has declined by around 10 points to 4,971.9 points early in the morning session, led by Cable & Wireless.

The FTSE 100 index has closed close on 20 points higher to 4,981.2 points at its weekend close, led by sale proposals at Whitbread.

In the UK the FTSE has started positively, adding about 20 points to 4,982 during its morning session, led by Whitbread.

The FTSE 100 index has shed further value today and closed down 34 points to 4,962.1 points, led by firms in the mining sector.

In London, the FTSE 100 Index closed the day down 14.8 points to 4996.1 points, led by British American Tobacco.

Mining conglomerate BHP Billiton earlier today announced plans to buy Australia's WMC Resourcesfor A$9.2bn, but it wasn't enough to keep the UK's main stock index afloat.