FTSE 100

Abbey National shares closed down at their lowest level in seven months while HBOS bounced in the other direction, after announcing it no longer plans to bid for the bank.

Vodafone has seen its biggest share losses in over three months today after Citigroup downgraded their interest in mobile operators.

Markets have turned again on Friday morning and stocks are rising for the first time in three days, thanks largely to Sainsbury and accounting software firm Sage Group.

A bad start to the day for Compass Group left the London stocks struggling to recover after MFI Furniture Group also reported bad news.

Reduced profit potential for GlaxoSmithKline, according to one investment firm, halted the FTSE's stronger run over recent days to leave the main index virtually flat by close of London trading.

UK stock markets are struggling to make any headway after the Bank holiday as losses in the US market are affecting both the FTSE 100 and the Asian markets.

The FTSE 100 index is up again this morning on the back of gains for GlaxoSmithKline, who have now settled their anti-competitive law suit with the New York Attorney General's office.

A further fall in the price of oil has helped the FTSE 100 rise to its highest level in two months.

Strong earnings potential for money managers Schroders and Amvescap lifted the FTSE 100 back over the 4400 mark.

Lower than anticipated income for mining giant BHP Billiton has forced the FTSE 100 down this morning, as there has been little to lift the mood.