FTSE 100

Blue chip stocks fell this morning on fears that data will show US economic growth slowed in the second quarter.

The FTSE 100 was up 0.98% or 49.85 points to 5,159.25 this afternoon as data showed new claims for unemployment benefits in the US fell more than expected.

Disappointing economic figures from the US coupled with a warning over a double-dip recession in the UK have plunged global markets further into the red in afternoon trading.

The FTSE 100 has plunged in late morning trading as renewed concerns over the global economy end the recent rally powered by M&A speculation.

America's largest stock markets reported very light trading volumes on Monday as a flurry of M&A did little to reassure investors of the strength of the global recovery.

The FTSE 100 opened 0.11% higher to 5,211 in early trading following a flurry of M&A activity.

The FTSE 100 and other major global indices are in sharp decline today on the back of poor US unemployment data.

The FTSE has extended early gains after figures showed inflation eased in July, with financials and mining stocks leading the charge into positive territory.

The FTSE opened 40 points higher on Friday as positive economic news from Germany and France buoyed investors.

Keith Skeoch, the head of Standard Life Investments, has predicted the FTSE 100 will close the year at 6,000 points, 14% higher than yesterday's closing figure.