Asian stock markets plunged today as government bank bailouts in the US and Europe failed to alleviate fears of a global financial crisis that would depress world economic growth.

News of a cash crisis at US investment bank Bear Stearns sent the FTSE 100 Index into reverse today in a dramatic end to the trading week.

The London market was in positive territory today as takeover rumours fuelled interest in property stocks.

London shares ended today in the red after a rise on Wall Street failed to offset the impact of gloomy UK economic and media sector news.