UPDATED By mid session, the FTSE 100 index was down 40.2 points, or 0.7 per cent at 5,999.92, just above the session low of 5,982.85, having dropped from the day's peak of 6,055.64 as this week's volatile performances continue. Federal Reserve chair Janet Yellen will speak at the University of Massachusetts in a lecture after the US markets close and investors will be searching for any vague hint on the timing of the first US rate hike in almost a decade.
Investor essentials and share and fund prices
-
Share prices
View all UK shares -
Top movers
Latest risers and fallers -
Company A-Z
Directory of UK shares -
Fund data tables
Thousands of investments -
Economy
Latest economic data -
Market diary
Big events in the City -
Broker views
Buys, sells and holds -
Commodities
Oil and gold prices -
Charting
Compare share performance
LIVE MARKET DATA & NEWS
MARKETS COMMENT & ANALYSIS
If this government is serious about supporting manufacturers then it must save our steel, says RUTH SUNDERLAND
There was a sickening feeling of déjà vu when Thai operator SSI last week announced that it is halting production at the Redcar plant, only five years after riding to the rescue when Indian giant Tata mothballed it in 2010. Overshadowed by the VW scandal, and a world away from the centre of power in London, the latest blow to the steel industry in the North-East has received relatively little media attention.
BT says: Let us be! But rivals are deeply unimpressed by telecom giant's plans
BT yesterday launched a full-throated defence of its current structure by outlining the great benefits it could bring to Britain in the coming decade. The former telecoms monopoly, facing the possibility of being broken up by the regulator, also outlined changes to customer service, internet speeds and broadband rollout.
RUTH SUNDERLAND: VW scandal strikes at the heart of Germany's national pride
The car industry is a totem, a key element of its self-image as the eurozone's virtuous manufacturing hub. It is by far the biggest car maker in Europe, producing around half of total vehicles by value and around 52 per cent of total components, according to Professor Garel Rhys, president of the Centre for Automotive Research at Cardiff University. The country has thrived by selling premium cars and white goods, with customers prepared to pay extra for prestige and reliability.
ALEX BRUMMER: Regulators need to call a halt to BT expansionism
As a private company BT has been far more adventurous and innovative that it could ever have been in the public sector. But it still acts as if it has the God-given right to be Britain's dominant telecoms company. Open Reach is a constant source of complaint from competitors such as Sky and TalkTalk. BT will try to address some of this today with the roll out of its new super-fast broadband offering, G.fast.
ANDREW HALDANE: How do markets build a social licence? The Old Lady opens debate on socially useful finance
More is needed to change, durably, the culture of finance and the functioning of markets. Restoring society's trust is not a nice-to-have, it is a must-have. So now is a good time to take a step back. Are markets delivering for the economy? Are the regulatory changes coherent? How should we interpret recent episodes where markets suddenly gum up amid worries about Greece or China? Will financial innovation and technology be game-changers?
SIR WINFRIED BISCHOFF: Free business from shackles of regulation
Imposing more regulation risks making business less competitive and deterring investors from injecting capital to support UK companies, the economy and the collective creation of national wealth. Too many rules and regulations restrict the freedom and enterprise of all companies. Investors and the public need reassurance that standards are high, and that they are observed by everyone. The perception in some parts of the City is that regulators are too tough on companies, and too weak on individuals.
SIMON WATKINS: World's central banks walk a tightrope on interest rates
If the global economy slows down sharply, interest rates could be expected to stay at their historic lows for even longer. The risk of households becoming dangerously indebted would be even worse. It may as yet be unlikely, but I would be more comfortable if there was a better answer to this risk than 'it will probably never happen'.
MIDAS SHARE TIPS: Oil pioneer Algy Cluff is cooking on gas with latest venture Cluff Natural Resources
To those of a certain age, Algy Cluff is a name to conjure with. Cluff was one of the pioneers of North Sea oil, making some of the first discoveries and so helping kick-start the boom there. For those prepared to take risks, his latest venture, Cluff Natural Resources, is worth a look. Make no mistake, this is at the moment a tiny company, with a market value of just £7.5million, and it made a loss of £745,000 in the six months to June.
African miners pay the price of Glencore pain: Huge £20bn debt pile means 4,000 face axe
It's all part of the firm's plan to reduce its groaning debt and boost profits. Under pressure from investors, copper output in Zambia and the Democratic Republic of Congo is to be suspended for 18 months. The Switzerland-based firm also axed full-year and interim dividends and said it would sell £1.3bn of assets.
FTSE's most surprising chairman: Being a top cop gave Keith Hellawell skills to run large firms
As a top cop he managed to get Yorkshire Ripper Peter Sutcliffe to admit to two more attacks, and as Tony Blair's drugs czar he resigned over the weakening of the classification of cannabis. At Sports Direct he has been responsible for keeping founder and executive deputy chairman, Mike Ashley, in line, while ensuring the firm adheres to the very best practice expected of a London stock market-listed firm.
Second guessing when the US will raise rates is almost impossible, but be ready for a shock when it does, says BEN GRIFFITHS
One of the biggest games of 'will they, won't they?' in recent economic history continues to intrigue global markets. Investors know it's only a matter of time before Janet Yellen and co must raise the cost of borrowing from its historic lows. Nevertheless, it has become almost impossible to second guess when this might happen.
TOP DIY INVESTING PLATFORMS
-
TiM exclusive
£12.50 share dealing & no admin fee -
Good for big pots
£80 flat fee with 8 free trades -
Intelligent investing
Try it for free! -
Cheapest trading
0.24% admin fee, £2.50 share dealing -
Packed with features
Free fund dealing, investors' favourite -
Low annual charge
0.2% funds fee and £4.95 dealing -
Easy to use
Free fund dealing, competitive 0.35% fee -
Guidance and tools
0.35% fee, free fund dealing, guidance -
Explore 2,500+ funds
Plus ETFs, UK shares -
Flat fees
£75 per year for Isa or dealing account
Latest reports from News
- Inflation has tanked because low-skilled labour has kept wage growth down and there's no rush to hike rates, says Bank of England deputy
- Feeble manufacturing figures from China, Europe and the US fuel fears for global growth
- UK steel industry in cry for help as Redcar plant teeters on the brink after Thai owners halt production
- New Standard Chartered boss receives a £6.3m 'golden hello' shares windfall
- Bell tolls for 24-hour shopping at Tesco as two stores cease all-night opening due to low numbers of night-owl customers
- Jeremy Corbyn's 'people's quantitative easing' plan could work in a crisis, says hedge fund boss
- Goldman Sachs boss Lloyd Blankfein falls ill but expects to be cured
- Household disposable income up £18 per week thanks to lower petrol, food and drink costs
- World is still vulnerable to another financial crisis, says Bank official
- Bank of England Governor Mark Carney warns of the debt-fuelled threat posed by China to the global economy
- Chinese to be allowed to build new nuclear plants in UK under Government plans
- Bank of England deputy Sir Jon Cunliffe claims rates are likely to rise despite global economy's turmoil
- Why we MUST drill for oil in the Arctic: Shell boss's message to climate change campaigners and governments
- 'Green taxes stoke up steel plant jobs crisis': Northern Powerhouse is dealt a blow as Ministers are blamed for 3,000 redundancies
MIDAS SHARE TIPS
- MIDAS SHARE TIPS: Oil pioneer Algy Cluff is cooking on gas with latest venture Cluff Natural Resources
- MIDAS SHARE TIPS UPDATE: China puts hole in chemical firm gains
- MIDAS SHARE TIPS: Ignore the 'bad' news at InterQuest Group - this jobs agent is thriving
- MIDAS SHARE TIPS: Pennon's liquid assets keep the dividends pouring in and shares should rebound after excessive decline
- MIDAS SHARE UPDATE: Our paving stone tip delivers rock solid growth of 185% in two and a half years
- MIDAS SHARE TIPS: Investing abroad is now easier, but is it worth it?
- MIDAS SHARE TIPS: Tasty prospects at convenience store giant McColl's Retail Group as it boosts takeaway choices
- MIDAS SHARE TIPS UPDATE: Lettings agency tip Martin & Co grabs slice of success
- MIDAS SHARE TIPS: You might loathe lawyers, but Gateley is one worth signing on the line for
- MIDAS SHARE TIPS UPDATE: Investors clean up after our workwear supply tip Johnson Service Group doubles - again
- MIDAS SHARE TIPS: Allergic to pets? New cure will be the cats' whiskers as Neil Woodford-backed Benchmark Holdings lines up a vaccine
FUND AND TRUST IDEAS
- F&C MM NAVIGATOR DISTRIBUTION FUND: Why nothing gets past this 'steady eddie' investment double act
- ARGONAUT EUROPEAN ENHANCED INCOME: Investors could benefit from the robust profits growth of European corporates
- JUPITER JAPAN INCOME: Casio remains a watchword as fund faces fallout from China
- STONEHAGE GLOBAL BEST IDEAS EQUITY: When China sneezes Walt Disney, Visa and Google all catch a cold
- JPMORGAN EUROPEAN INVESTMENT TRUST: Fund makes waves as it looks to Continent for income investors
- SARACEN GLOBAL INCOME & GROWTH: Fund buys into fitness trackers to help build for the long run
- PREMIER MULTI-ASSET DISTRIBUTION: Fund hits the spot as retirees turn backs on annuities
- TELLSONS ENDEAVOUR: Charles Dickens meets Captain Cook in the fund with a simple story to tell
- FARNBOROUGH EQUITY: The tiny £3m fund that has been given a five-star rating by experts
- GUINNESS ASIAN EQUITY INCOME: Tiny fund generates 18% return over a year and is yielding nearly 4%
- ARTEMIS MONTHLY DISTRIBUTION FUND: Two heads can be better than one - even when their views are poles apart
- THE MERCANTILE INVESTMENT TRUST: Funds weigh up their resilience to the meltdown in Greece
- ALLIANZ TECHNOLOGY TRUST: Secure data and high-tech cars are driving force behind tech stocks
- MARTIN CURRIE PACIFIC TRUST: Get a taste of Asia's best mature - and raw - economies
Latest from Markets
- UK car industry strongest its been for seven years, with over one million cars built on these shores since January
- FTSE LIVE: Footsie drops back with oil majors weak and US stocks seen lower on caution ahead of Yellen speech
- Poundland warns 99p Stores in worse shape than thought and launches £50m cash call to fund deal
- Argos hit again by weak demand for TV and tablets but DIY boost from Homebase helps lifts Home Retail Group's overall sales
- Thomas Cook summer sales meet expectations as travel firm looks to move on from Tunisia terrorist attack
- MARKET REPORT: Airlines help the Footsie to fly with Morgan Stanley rating Iberia and BA owner IAG its top pick
- Santander's long-awaited UK float plan 'is not a priority', say Spanish bosses
- Owners of travel firm Thomson say surge in demand from sun-seeking Britons has boosted bookings
- The odd couple aiming to bring back AA's golden age: Mismatched partnership could put breakdown firm on road to recovery
- 'An investor's nightmare': VW crisis set to cost £26bn as chief executive resigns in disgrace
- Short-haul holiday firm On The Beach floats on the London stock market with a £240m listing
- Business jet operator BBA Aviation to buy US rival Landmark in £1.4bn deal
VIEWS, TIPS & SPECIAL REPORTS
- SIR WINFRIED BISCHOFF Free business from shackles of regulation
- SIMON WATKINS World's central banks walk a tightrope on interest rates
- MIDAS SHARE TIPS Oil pioneer Algy Cluff is cooking on gas with latest venture Cluff Natural Resources
- African miners pay the price of Glencore pain Huge £20bn debt pile means 4,000 face axe
Investing essentials
- How to pick the best (and cheapest) DIY investing Isa A wealth of choice and changes to charges have left many investors scratching their heads
- How to find the best (and cheapest) Sipp Make more money from your DIY pension
- How to invest in funds, investment trusts and ETFs And save money as a DIY investor
- How to invest in shares Your complete guide to joining the excitement of individual share-picking
- How to start investing in funds and pick the right ones for you The easiest way to start investing is with funds. We explain how to invest.
- What should you know before buying a fund? The DIY investors'guide How to read a fund document and work out what you need
- The importance of asset allocation How to divide investments so your eggs aren't all in one basket
- The cheap but boring tracker funds that do all the work for you Is this as easy as investing gets?
- Clean funds: what you need to know about new investments Is it time to put your dingy old funds through the wash?
Investor essentials and share and fund prices
-
Share prices
View all UK shares -
Top movers
Latest risers and fallers -
Company A-Z
Directory of UK shares -
Fund data tables
Thousands of investments -
Economy
Latest economic data -
Market diary
Big events in the City -
Broker views
Buys, sells and holds -
Commodities
Oil and gold prices -
Charting
Compare share performance