FTSE slips back after markets hit pre-Lehman levels

London's leading index of shares added to yesterday's triple-digit gains in early trading on Friday, before dipping into negative territory.

Global markets surged on Thursday following the Federal Reserve's decision to pump $600bn into the US economy. This morning, the FTSE was set to tip 5,900 shortly after opening but has now slipped back to 5,855, a loss of 0.1%. The index had closed more than 113 points higher yesterday, its highest point since 9 June 2008. Wall Street followed suit, the Dow Jones closing up almost 2%, or 219 points, at 11,434, while Frankfurt's Dax rose 1.8% and Paris' Cac-40 advanced almost 2%. However, both the Dax and Cac are also in negative territory this morning. In London trade today, par...