A massive £36.2bn (€54bn) was wiped off the FTSE 100 Index today after the London market was hit by its biggest fall since May last year.

Trading screens were a sea of red today after negative factors from overseas acted as a drag on sentiment in the London market.

Car hire group Avis Europe today posted a sharp fall in full-year profits as it was hit by lower rental prices, increased fleet costs and restructuring charges.

The London market finished just below its opening mark today following a mixed session for leading shares as fears of an imminent interest rate rise across the Atlantic loomed again.

Shares in British Airways rose 2% today as airline services showed signs of returning to normal following Thursday’s terror alert.

The London market slid into the red today after details of a “mass murder” terror plot emerged but shares recovered substantially throughout the session as investors showed confidence in blue-chip stocks.

Bid speculation drove the FTSE 100 Index higher today as investors eyed possible developments at BT, Cairn Energy and airports operator BAA.

The FTSE 100 Index slipped below the 5500 barrier today as lower copper prices scuppered progress by miners.

A strong run for the FTSE 100 Index came to an end today, despite the latest round of takeover speculation involving top-flight companies.

A bid approach for Exel and positive results from drinks giant Diageo helped the FTSE 100 Index post strong gains for a third session in a row today.

Avis Europe took a sharp fall in profits in its stride today, as the car rental company instead hailed “crucial steps” in a recovery plan.

Insurers provided a boost to the London market today as investors welcomed an upbeat set of results from Prudential.

The FTSE 100 Index pushed ahead today as investors celebrated positive figures from blue-chip companies Prudential and Morrisons.

Booming demand for metals in China sparked a flurry of interest in mining stocks and helped the FTSE 100 Index to advance today.

Troubled car rental firm Avis Europe unveiled plans today to raise £110.5m (€166.4m) to help arrest the slump in its profits.

A clutch of retailers led the FTSE 100 Index to a negative close today amid fresh concern over the outlook for the high street.

Troubled car rental firm Avis Europe saw its shares fall 7% today as it warned difficult trading conditions had continued into its new financial year.

The FTSE 100 Index was within striking distance of the 5000 barrier today, after soaring to its highest level since June 2002.

Troubled car rental firm Avis Europe today became the latest FTSE 250 Index stock to find itself at the centre of takeover speculation.

Speculation that Argos owner GUS was on the shopping list of a consortium of private-equity firms and banks boosted the London market today.

London shares trod water today after upbeat economic news fuelled fears of an interest rate rise in January.

Car rental firm Avis Europe dealt shareholders a fresh blow today after announcing it would not be making a full-year dividend payment.

Speculation about a takeover battle for Sainsbury’s helped keep top flight shares above the key 4500 support level today.

Car rental group Avis Europe has dashed hopes for a revival after seeing little respite from the tough conditions that led profits 64% lower today.

Former chief executive of Avis Europe PLC, Mark McCafferty could be in line for a compensation payment under the terms of his contract.

Car rental group Avis Europe today said it had signed Europe’s largest ever fleet partnership deal with US car maker General Motors.

Car rental group Avis Europe today warned it saw no strong near-term recovery in corporate business despite seeing trading recover from the impact of the Iraq war.

Nokia, the world’s largest mobile phone producer, yesterday warned of an uncertain future outlook and weak sales for the remainder of 2003.

Investors shied away from the London market today as lacklustre trading left the benchmark FTSE 100 Index only marginally in positive territory.

Companies reporting in Britain in the week beginning February 24 include:

Avis Europe tightened its grip on the continental car hire market today by acquiring a chunk of rival Budget’s global operations.

Car rental chain Avis Europe today announced it was in talks to buy the rights to rival operator Budget’s name and trademark in Europe, the Middle East and Africa.

Car rental group Avis Europe today blamed the gloomy economic climate and corporate cutbacks for putting the brakes on its recovery drive.

Leading shares remained firmer but off intraday highs in thin midday trading, tentatively clawing back some of yesterday's massive losses, although investors continued to tread warily in the wake of the apparent $4 bn (€4.06bn) fraud at WorldCom, dealers said.