markets

The benchmark FTSE 100 Index added 1.9 points, to 4618.30, led by Scottish & Newcastle after Merrill Lynch raised its recommendation on shares to ‘neutral' from' ‘sell'.

UK stocks have recovered slightly from this morning, however, the benchmark FTSE 100 is trading down 38.80 points at 4616.40 points late this afternoon.

Rising crude oil prices have sent the FTSE 100 index down about 37 points to 4,648, while the FTSE All-Share index is also down at 2,324.

Less than expected job creation figures for the past month in the US helped unsettle the FTSE although the index closed relatively unchanged up just 0.20 points at 4,698.90.

Early morning trading has seen the UK's benchmark FTSE 100 index fall by about 11 points to 4688, while the FTSE All-Share index is of by about 1.5 points to 2332.

In London this morning, FTSE All-Share index was up about 2 points to 4,708.4, despite oil prices edging up.

Stocks in BP continued to climb in the UK this morning with oil trading in record waters, helping the FTSE 100 rise about 2 points to 4,709.

A second wind for UK stocks this afternoon despite a weaker opening in New York has put the FTSE 100 index on course for a second day of gains to another record high.

Investors have rethought price to earnings multiples on European-listed stocks today, helping the FTSE put in a 34 points gain to 4,605 following yesterday's tumble.

European stockmarkets, including London, were unable to offset negative sentiment from the US following renewed violence in Iraq, sending the FTSE down by 17.30 points to 4,570.80 by the close.