FTSE 100

Global stocks are continuing to surge today on expectations the ECB will step up its government bond purchases to ease pressure on the ailing eurozone.

UK bank shares were being sold off this afternoon, sending the FTSE down 0.3% to 5,532.08 points, as investors fear Europe's debt crisis has not yet claimed its last sovereign victim.

The FTSE edged 0.4% higher to 5,574.98 points in early trading, recovering some of yesterday's 2.1% loss.

Banks led the FTSE 100 index 0.6% higher in early trading to 5,704.96 as investors showed their relief after Ireland agreed an €85bn (£72.5bn) rescue package.

The manager of the £41m Marlborough UK Leading Companies fund has taken small-cap exposure to its highest level since 2007, attracted by growth prospects and exposure to emerging markets.

Fresh fears of eurozone debt contagion has hit global markets today, with the largest European indices suffering large losses.

The FTSE 100 has fallen 1.2% this afternoon as eurozone debt fears and reports of hostilities between North and South Korea continued to dent investor sentiment.

The FTSE 100 fell almost 1% this afternoon, reversing early morning gains, due to rising political uncertainty in Ireland.

European stock markets fell this afternoon as China raised its bank reserve rate for the second time in a week in a bid to control inflation.

The FTSE ignored large gains on Wall Street overnight, falling 0.35% to 5,748.45 in early trading.