FTSE

A poor start for consumer stocks has led the FTSE 100 into negative territory this morning, with the index down 3.66 points, or 0.08%, to 4,478.59 by 8:45am.

The Dow Jones has fallen 18.56 points (0.22%) to 8485.52 following alarming US housing starts data.

The FTSE 100 has built on yesterday's gains, climbing 41.86 points (0.94%) to 4488.31 despite disappointing results from Marks & Spencer Group.

The FTSE 100 has recouped initial losses in early trading, with financials providing support on the back of plans by Lloyds to redeem the Government's £4bn stake of preference shares in the group.

US markets posted marginal gains in early trading, climbing 0.72 points (0.01%) to 8332.04 as the Federal Reserve revealed industrial production in the States could be stabilising.

Banks once again lead the FTSE 100 winner's table, but the index remains in the red shortly after midday.

The Dow opened marginally down on yesterday's 8,469 close but immediately dropped further to 8,329.

In London, shares fell slightly in early trade, down 7.75 (0.18%) to 4,417.79 as mining shares fell back.

The mining sector is struggling in early trading this morning as platinum giant Lonmin unveiled its $457m rights issue.

In London, shares gained some ground through the afternoon as investors showed increased confidence in the banking sector