The FTSE 100 bounced back into the green at the open, and above the 6,000 mark, before falling back to hover at around 5961 by late moring.
It follows a catastrophic day yesterday when the index measuring the value of Britain’s largest companies shed billions of pounds in value and closed down by almost two per cent, after China’s stock markets plunged seven per cent and closed for the second time in a week.
The losses came amid a stark warning by the Chancellor over the threat to the economy.
Equities suffer their worst start to a calendar year since the bursting of the dotcom bubble in 2000 as fears over China’s exchange rate grow
Global stocks markets have seen $2.5 trillion wiped off their value in just four trading days, the worst start to a calendar year since the aftermath of the dotcom crash in 2000.
Stocks suffered another tumultuous day of trading gripped by renewed fears that the world’s second largest economy was engineering a devaluation of its currency.
China halted stock trading Thursday, its second day-long trading suspension this week, after prices plunged in the latest spasm of investor panic on its volatile markets.
Chinese markets have lurched up and down as regulators gradually withdraw emergency measures imposed after the main stock index plunged in June following an explosive rise. Continue reading