FTSE

The FTSE 100 dived 6% in afternoon trading on Wednesday as a result of glum retail sales data across the Atlantic.

The Dow Jones saw its fifth consecutive day of losses yesterday, falling 25 points to close at 8449, as investors were spooked by yesterday's speech by Fed chairman Ben Bernanke.

Mining stocks pulled the FTSE below 4,450 on Tuesday as Rio Tinto, Xstrata, Antofagasta and Vedanta Resources fell.

Consumer cyclicals boasted the largest sector gains in UK markets early on Friday, up 1.42% in the wake of several retail groups announcing surprising results.

UK markets continued to fall after yesterday's dismal trading on Wall Street, and the FTSE100 dropped 1.38% to 4,445.5 shortly before 2.30pm.

The FTSE 100 unsurprisingly opened sharply lower in early trading this morning following the 245 point decline for the Dow last night.

The FTSE opened marginally lower on Wednesday, threatening to spoil its bid for six straight days of gains.

The FTSE APCIMS index is set to reduce its commercial property weighting to reflect the major downturn in the sector.

As Woolworths closes its final stores today, top winner Next and its high street rival Debenhams are two retailers announcing a drop in sales in the pre-Christmas period.

Financials and insurers pulled the FTSE into negative territory late on Monday after a promising start.