Markets

News Corp's shares jumped 5.5% following yesterday's parliamentary hearing with the group's chiefs Rupert and James Murdoch.

Markets look set for another day of falls as investors fear sovereign debt problems in the US and eurozone could prompt another global crisis.

The FTSE 100 fell below the 6,000 level in mid-morning trading as European markets absorbed Moody's downgrade of Portuguese debt to 'junk' status.

Standard & Poor's has warned proposals put forward by French banks to rollover Greek debt would effectively mean the country is in default.

Nervous markets were further soothed yesterday as Greek MPs passed a law to implement strict austerity measures in a second round of voting.

Brent crude is trading at a four-month low following the International Energy Agency's (IEA) decision to boost oil supply last week.

Declines in metals and other commodity prices have caused global indices to report losses for Tuesday and Wednesday morning.

Asian markets rallied overnight after the Federal Reserve indicated it will not hike interest rates.

Global markets have marginally recovered after yesterday's surprise Standard & Poor's downgrade of the outlook for US debt caused widespread falls.

Oil major BP shares have dived this morning after its planned tie-up with Russian state-owned oil giant Rosneft was blocked by the courts.