After four days of freefall and volatility the stock market rallied this morning as the bargain hunters moved in. Yesterday the FTSE dropped to its lowest level for four years as Europe’s stock markets followed declines in the Asian markets.
Today the market has seen some recovery. At 7.30am, the FTSE 100 was up 38.1 at 5,071.8, as investors hunted out bargain stocks – particularly in the technology and telecoms sector which have suffered spiralling declines in recent weeks.