Economics

The FTSE 100 was 1.3% lower this morning after slowing Chinese GDP data and a Moody's warning over France's AAA-rating weighed on sentiment.

Chinese GDP has risen by 9.1% in the third quarter, its lowest quarterly figure for two years.

Franklin Templeton's Mark Mobius has said he does not believe there will be a recession in developed or emerging markets despite the ongoing eurozone sovereign crisis.

Capital Economics has said the eurozone debt crisis will have "severe adverse effects" on the UK economy, pushing it back into recession in 2012.

US markets are down 1% and the FTSE has moved into the red after the German finance minster dampened hopes for next weekend's EU summit.

Bailing out the banks is not a solution to the debt crisis, and eurozone leaders should let troubled banks fail, said investment veteran Jim Rogers.

The FTSE 100 was trading at its highest level since early August this morning, as optimism over the crisis in Europe continued to cheer investors.

Anti-capitalist protesters occupied stock exchanges around the world over the weekend, with sit-ins continuing today as organisers claimed 950 protests have been held in over 80 countries.

Shares in oil giant BP soared to their highest level in more than two months today after the group agreed a $4bn settlement with oil and gas exploration group Anadarko Petroleum over the Gulf of Mexico disaster.

Ernst & Young has downgraded its forecast for UK gross domestic product (GDP) to just 0.9% this year - significantly below the 1.4% it predicted three months ago - as it described the economic situation "worse than we thought".