On a quiet day it was the special situations which demanded attention. And they don't come more special than Mike Ashley's Sports Direct.

Goldman Sachs, fresh from reporting a 22% rise in profits, has turned its attention to doing some damage to its rivals, notably Barclays.

Intercontinental Hotels Group is being hit by a downgrade from Morgan Stanley, and its shares are currently the biggest faller in the FTSE 100.

Today's rally has proved shortlived, with mortgage banks Northern Rock and Alliance & Leicester proving a drag on the market.

Seems like a good day for Clara Furse. The London Stock Exchange is currently the top riser in the FTSE 100, up 53p to £18.60.

After last week's downgrade by its own broker, department store group Debenhams is being given a lift today by takeover talk.

It's been another day of sharp losses for the FTSE 100, which has just closed down almost 120 points in the wake of US inflation worries, high street spending jitters and general unease about the global economic outlook.

As expected, US stock markets have opened sharply lower but for now it's the UK that is suffering the deepest losses.

The prospect of flush Chinese buyers snapping up UK-listed stocks, helped the FTSE 100 pare some of its losses for a few moments of respite this morning.

Strong US inflation numbers have knocked back hopes of more US rate cuts and today the UK stock markets are taking their turn to tumble.