FTSE 100

Prudential's 1.5% rise in early trading, following better than expected first-half profits, helped the FTSE edge 0.3% higher to 5257.79 points.

The FTSE 100 has slid more than 2% lower this afternoon after US markets suffered even sharper losses in early Wednesday trading.

European markets are in retreat this morning on fresh fears for global growth sparked by a gloomy outlook from the US Federal Reserve.

US stocks opened sharply lower today as investors await a crucial statement from the Federal Reserve which could signal further quantitative easing measures.

The FTSE 100 opened strongly at the start of the week, boosted by Friday's late rally on Wall Street and positive corporate news.

The FTSE 100 has fallen sharply this afternoon on news 131,000 jobs were shed in the US last month.

Barclays shares are 3% lower in early trading despite posting profits of almost £4bn in the first half.

The FTSE 100 has soared 1.98% this morning as HSBC more than doubled pre-tax profit to £7bn.

THE CONTRARIAN INVESTOR

UPDATE: The FTSE has bounced back from heavy losses earlier this afternoon on the back of weak GDP figures from the US.