FTSE 100

The FTSE 100 was enjoying a second consecutive day of gains on Wednesday as investors pushed the index to a two-week high.

US markets have opened lower, with the S%P 500 losing ground initially as investors await consumer confidence data.

Investment banks believe the FTSE 100 will end the year above 6,000 points - despite the turmoil of recent weeks, according to a new survey.

The FTSE 100 has opened 3% higher after the Dow Jones added 250 points overnight, with financials leading the surge.

The FTSE opened more than 40 points lower on Friday as US Federal Reserve chairman Ben Bernanke gears up to deliver a key speech on the ailing US economy.

The last few weeks have seen unprecedented market volatility as investors take fright at the ongoing debt crisis in the eurozone and a series of weak economic data from the US.

US hedge fund giants looked to technology stocks in the second quarter but some big names have been left nursing heavy losses after moving back into US financials ahead of the market crash.

The UK's index of 100 leading shares fell 2.76% to below 5,000 this morning, as global markets showed no signs of shaking off fears the West is heading back into recession.

US manufacturing data has sent markets plunging again, with the S&P 500 down 4.5% and the UK and Europe also tumbling.

European markets have fallen further into the red in mid-morning trading on the back of recessionary fears, with the FTSE 100 suffering triple-digit losses.