The FTSE 100 index (UKX) was up 2% by mid-morning trading on Thursday, after the US Dow Jones Industrial Average closed nearly 4% higher on Wednesday following comments from the US Federal Reserve that a September interest rate hike now looks ...
It's been a rollercoaster of a week for the FTSE 100. Having lost �72bn on Monday, won half of it back on Tuesday and then suffered losses again on Wednesday, the direction the blue-chip index would head in next seemed far from certain.
The rally helped the FTSE 100 to rise more than 3% to 6,081 after China cut interest rates. Meanwhile, shares in BG, which is the subject of a �13.50-a-share takeover offer from Shell, moved up from �9.31 to �9.60.
So why on earth has the plunge in Chinese stock markets - Shanghai fell another 7.6% today, taking the losses on shares over four days to well over 20% - left European markets unperturbed this morning after yesterday's fall?