Gold soared above $1,900 for the first time overnight as investors continue to flock to the precious metal amid ongoing turmoil in financial markets.
The UK's index of 100 leading shares fell 2.76% to below 5,000 this morning, as global markets showed no signs of shaking off fears the West is heading back into recession.
Global markets are down this morning as investors vent their concern at eurozone leaders' "disappointing" efforts to stop the debt crisis.
The FTSE opened more than 2% higher on Thursday after the Dow Jones shed 520 points lower in overnight trading amid concerns that France would become the next economic superpower to lose its AAA rating.
Update (1:07pm): The FTSE briefly joined the bear-market club on Tuesday before regaining most of the day's losses as global markets continue to experience extreme volatility.
The FTSE has had a bright start to trading with a host of financials enjoying early gains.
Japan's leading share index extended its winning streak to six days overnight, it's longest spell of consecutive positive returns since March's earthquake and tsunami.
London's leading share index edged higher in early morning trading, after disappointing results from Royal Dutch Shell yesterday dragged the FTSE down to close below 6,000.
London's leading share index fell below 6,000 points in early morning trading, dragged down by a flat finish in US markets and continuing turmoil in Egypt.
Leading Tokyo shares fell on Friday after ratings agency Standard & Poor's (S&P) downgraded Japan's creditworthiness.