FTSE

The FTSE closed the week down sharply by 66.50 at 5699.90 as a result of renewed worries about the US economy.

The FTSE was down 74.10 this morning at 5692.30 as pub JD Wetherspoon reported a slump in profits.

Takeover and merger rumours are rife in London this morning, with the FTSE 100 currently up 26.80 points (0.46%) to 5794.50.

Financials with the exception of HSBC were pounded in London this afternoon as continued credit concerns coupled with poor broker reports. The FTSE 100 index fell 67 points (1.14%) to 5817.3.

The FTSE closed down 99 at 5,866, dragged down by the banks which reacted badly to news house prices fell more than expected in February.

The FTSE dipped under 6000 at the close of the week, down 5.90 at 5959.80

A strong afternoon fightback was not enough to bring the FTSE 100 index into the black today, finishing Wednesday down 10.90 points (0.18%) to 6076.50.

Financials are being smashed in London this morning following release of the HBOS 2007 final results, the index is currently down 48 points (0.79%) to 6039.40.

The FTSE finished the day strongly up 1.47% to 6087.40 driven by a powerful performance from financials which dominated the top five.

The FTSE 100 closed the week down 43 at 5,888 despite a rally by the banking sector which responded well to Lloyds TSB's results.