FTSE 100

Insurance stocks worldwide took a big hit today in anticipation of lower future payouts following the huge earthquake and tsunami which hit Japan overnight.

A major earthquake in Japan has rocked markets, which were already fragile yesterday as the FTSE 100 hit a five-week low.

Markets fell across the board at the start of trading today, after Moody's downgraded Spain's government debt from Aa1 to Aa2 with a negative outlook.

The FTSE100 fell in early trading as concerns over EU debt problems offset any reassurance the market might take from easing oil prices.

US stocks closed lower on Friday despite a strong labour market report for February, as the oil price continued to rise, driven by continuing turmoil in Libya.

Ongoing disruption in the Middle East and the higher oil price has dragged on global markets, with many seeing losses of more than 1%.

Persisting unrest in Libya has dragged global markets down, with London's leading share index dropping back below the 6,000 mark reached yesterday afternoon.

London's leading share index was boosted this morning by a two-year high on Wall Street, following robust earnings reports and positive economic data.

Jan Luthman, co-fund manager of the £156m Walker Crips Equity Income fund, has built up an 80% position in FTSE 100 stocks, believing the area is undervalued.

Schroders' Richard Buxton believes the Bank of England will hold off on raising interest rates this year despite his forecast inflation could reach 5%.