Renewed hopes of a takeover for Friends Provident sent the insurer's shares soaring today, but part-nationalised banks suffered amid uncertainty over future prospects.

The slide in US stocks to the lowest level since 1997 put fresh pressure on the FTSE 100 Index and other world markets today.

Broadcaster ITV and Carphone Warehouse are to be evicted from the FTSE 100 Index after the latest quarterly reshuffle, it was confirmed today.

British construction firm Morgan Sindall came under pressure today after it warned sluggish housing and property markets would hit the group next year.

Blue chips endured another choppy day on the London market today as high-profile takeover activity failed to lift stocks into positive territory.

Record oil prices and good news from the banking sector helped the FTSE 100 Index surge to a fresh three-year high today.

The London market recovered some of its earlier losses today as a fall in US consumer confidence allayed fears of US rate rises.

Building and infrastructure services group Morgan Sindall today said a boom in low-cost housing provision had helped half-year profits soar 31%.

Construction group Morgan Sindall is to help build a stretch of the Channel Tunnel rail link after winning a key contract today.