Heating and plumbing giant Wolseley today said it planned to cut another 1,300 jobs as it battles deteriorating trading conditions in the United States.

The FTSE 100 Index closed 1% lower today as jittery investors reacted to a lacklustre start to trading in New York.

British plumbing and building materials supplier Wolseley today said profits were running 14% lower following a downturn in the US housing market.

The London market finished the week in negative territory today as weakness for the US dollar met head on with a cautious report on the banking sector.

The London market dived deep into the red today after gambling stocks were rocked for the second time in two months.

Gambling stocks were rocked for the second time in two months today.

Internet gambling firm PartyGaming led the London market deeper into the red today as US inflationary concerns continued to spook traders.

A strong performance from financial stocks boosted the London markets today, offsetting heavy losses from steel maker Corus.

The London market continued to hover below the 6000 barrier today despite merger speculation driving shares in steel-maker Corus higher.

The London market bounced back into life today as the FTSE 100 Index put its recent heavy losses behind it.

Build Center chain Wolseley took advantage of a strong housing market in the United States to report a healthy increase in sales and profits today.

London shares surged ahead today as traders expressed relief that Hurricane Rita caused less damage than originally feared.

Build Center chain Wolseley bucked the tough trading conditions in the UK today with an 11% rise in profits and a forecast of more growth to come.

Publishing group Emap paced London’s leading shares to another positive close today as a trading update cheered investors.

The London market overcame jitters in the retail sector and downbeat trading on Wall Street to make a positive start to the week today.