Dow Jones

The FTSE 100 recorded its highest closing level since November 1 today, finishing the week up 69.3 points (1.07%) to 6554.9.

The FTSE100 had a strong start to the day, up 1.28% to 6,396.20, powered by good numbers from mining companies and housebuilders.

The FTSE had a weak end to the day as gloomy news from the States pushed the index down 3.20 to 6381.90.

The FTSE fell sharply this morning on the back of bad news from the States where stocks plunged following the announcement Morgan Stanley lost $3.7bn (£1.8bn) as a result of sub-prime debt.

World markets are in the midst of yet another crisis with all indices down including the FTSE falling 42 points to 6544.10.

Global markets have witnessed significant turbulence over the weekend as investors raised concerns the full effects of the US housing downturn and sub-prime crisis have yet to be felt.

The FTSE was down 81.50 to 6527.90 with Northern Rock the worst of the bunch falling 8.61% to 186.90.

A bid offer for Scottish & Newcastle led to a surge for the FTSE at close of play today.

Northern Rock led the FTSE higher, up by 0.09% to 6730.70, at the close of the week on news a consortium led by Richard Branson's Virgin planned to make a bid for the firm.

The FTSE100 began the day down 45.40 or 0.68% at 6679.10 with miners acting as the main drag on the index.