A stiff hike in oil prices cast a cloud over the London market today as they helped wipe out some solid gains enjoyed during earlier trading.

Sharply lower oil prices helped the London market break a three-day losing streak today as the blue chip share index rallied 2.5%.

The FTSE 100 Index powered 1.7% ahead for a second day of strong gains after a dramatic U-turn on relief over Citigroup’s first quarter figures.

The London market’s volatile week continued today as investors reacted to a sharp fall for shares on Wall Street last night.

Housebuilding giant Persimmon today said it had laid off more than a fifth of its workforce since January as it faced up to the toughest conditions in the group’s recent history.

One of the UK’s biggest housebuilders is expected to announce hundreds of job cuts today and provide a further insight into the woes in the industry.

Housebuilder Persimmon is expected to announce it is cutting up to 1,000 jobs when it updates the City this week, it was reported today.

A rare dose of good news from the high street failed to cheer investors today as more housing market woes dragged the London market into the red.

A rare dose of good news from the high street failed to cheer investors today as more housing market woes dragged the London market into the red.

London’s leading share index fell nearly 2% into the red today after a flurry of bad retail news and deepening gloom for housebuilders frayed nerves.

Retail stalwarts Sainsbury’s and Woolworths lost ground today after failing to impress with first quarter trading updates.

The London market plunged 1.8% into the red today as fears over potential interest rate rises spooked investors on both sides of the Atlantic.

The embattled housebuilding sector suffered a further blow today after a dire broker note warned of sliding profits and dividends among the leading firms.

House price gloom outweighed gains for energy stocks as the London market dipped into the red today.

Weaker oil and energy stocks after falling crude prices saw the FTSE 100 Index end a volatile session in the red today.

The FTSE 100 Index ended a see-saw session in positive territory today, despite gloomy Bank of England inflation forecasts hitting hopes of interest rate cuts.

Recent volatility in housebuilding shares continued today following the release of downbeat price data from building society Nationwide.

UK housebuilder Persimmon today signalled that recent interest rate cuts had helped improve consumer confidence as the firm remained cautiously optimistic for 2008.

The London market was mired in negative territory today after investor confidence was shaken by gloomy sentiment from around the world.

The London market was plunged into negative territory by mid-morning today as results from mortgage lender Bradford & Bingley caused misery for financial stocks.

The FTSE 100 Index’s turbulent start to the year continued today with a see-saw session that failed to get out the red.

Stock markets began a second week of turmoil today as lingering fears over the US economy weighed on the FTSE 100 Index.

Housebuilders and retail stocks cheered the London market today after an encouraging series of trading updates today.

Shares in Barclays fell by more than 1% today after Goldman Sachs warned earnings estimates for the bank were too high in the current climate.

UK Housebuilder Persimmon sounded a positive note about future prospects today as it unveiled a 7% rise in first half profits to a record £235m (€345m).