Dow Jones

UK stocks are trading down this morning led by drug producer GlaxoSmithKline, which has led the FTSE to a drop of about 14 points to 4,620.

In London this morning the FTSE 100 index has added around 22.70 points to 4670.60, buoyed by a sharp rise in value to the stock to Numis.

Warnings about the impact of interest rates on new house build demand caused the FTSE 100 index to close down on Tuesday, along with continued profitability pressure from the oil price.

Rising crude oil prices have sent the FTSE 100 index down about 37 points to 4,648, while the FTSE All-Share index is also down at 2,324.

At close today the FTSE 100 Index slipped 13.4 points to 4685.5, with Sainsbury and BT leading the way.

UK trading sent the benchmark FTSE 100 index down about 7 points this morning to 4691, held back by supermarket woes.

In London this morning, FTSE All-Share index was up about 2 points to 4,708.4, despite oil prices edging up.

BP leads a share climb for a third consecutive day in the UK, as the price of crude oil traded close to a record, with investment bank Morgan Stanley raising its recommendation on the stock.

Confidence has started well in the UK stock markets this morning, as two major stocks, Cable & Wireless and Barclays, have made gains and a report in the US predicted the global economy is better than expected.

Trading is a little more confident this morning as House of Fraser, one of the struggling high street retailers, has revealed its losses have at least reduced.