FTSE 100

The FTSE 100 has found support around the resistance level of 5,000 points as investors weigh up Greece's latest troubles.

News that Greece will fail to meet deficit reduction targets pushed the FTSE 100 down 2.8% at open, dragging it below 5,000 points.

The FTSE 100 has closed down 1.3% bringing its total loss for the quarter to 13.7%, its worst performance for nine years.

UK and European indices have opened 1% lower as markets look set to post bigger quarterly slumps than at the height of the Lehmans crisis.

The FTSE 100 was lower mid-morning as investors waited nervously for a crucial vote in Germany on the expansion of the European Financial Stability Facility (EFSF).

PSigma's Tom Becket believes the FTSE 100 could rise 10% by the end of year as European policymakers look set to recapitalise the Continent's highly indebted banks, boosting investor sentiment.

Simon Gergel, director at RCM, is the portfolio manager of the Merchants Trust plc. He talks to Jane Wallace about the trust's objectives and performance.

European markets fell back into the red on Friday as investor concerns about the global economy returned.

European markets fell back into the red on Friday as investor concerns about the global economy returned.

US shares tanked at opening, copying markets across Europe, as investors Stateside gave the Fed's latest efforts to stave off recession the thumbs down.