FTSE ends turbulent week with gains

The FTSE 100 Index ended a turbulent week in positive territory today.

The modest rise of 0.2 to 6116.2 brought a much-needed halt to losses after the Footsie fell by more than 300 points in three previous sessions.

Other markets, including the Dow Jones Industrial Average, also posted steadier performances.

Jimmy Yates, a trader at CMC Markets, said: “It’s been a rather choppy day for the FTSE with the London index moving in and out of positive territory on a rather regular basis, but it is starting to look as if the bulk of the downside pressures felt by equities in recent days are now coming to an end.”

This week’s slump has been blamed on a number of factors, notably comments from former Federal Reserve chairman Alan Greenspan over a “possible” US recession and the biggest fall for a decade on the Shanghai stock exchange amid concerns that the Chinese government will attempt to cool economic growth.

Importantly for London investors, the FTSE 100 Index is still above the 6,000 barrier after losing the gains seen since the start of the year.