Markets

Libya unrest has driven Brent crude oil to a 29-month high of $119, causing Asian markets to fall overnight and European stocks to slump as investors take profits.

Renewed inflation fears and worsening unemployment data in the US dampened markets across the pond and had a knock-on effect on the FTSE 100 before it closed today.

London's leading index started trading sluggishly, despite the Dow Jones yesterday closing up for the sixth consecutive day and the Nikkei hitting a nine-month peak overnight.

The FTSE 100 has opened slightly up, building on gains on Wall Street and positive employment news in the US.

The FTSE is slightly down in early trading, with RBS hit by fears it may be exposed to Ireland's economic problems.

Positive earnings reports from some of the FTSE 100 top players have boosted the index this morning.

Shares pulled back further on Wednesday following a blow for miners and lacklustre performances on Wall Street and in Asia.

The FTSE continued to feed off global optimism in early trading on Thursday, extending yesterday's 1.5% gain.

Markets on both sides of the Atlantic have continued on their downward trajectory amid fears about the economic recovery.

The FTSE 100 has opened flat following yesterday's climb as markets await European bank stress tests results.