LONDON's equity market, along with most European bourses, suffered a series of minor blows yesterday, but managed to come through a tense trading session in reasonably good shape, posting what dealers described as only moderate losses.
Once again, the main driving force behind trends in London was the US, where Wall Street followed its roller coaster ride on Thursday with another volatile performance.
Over the week the FTSE 100 rose 15.2. The Mid 250, meanwhile jumped almost 50 points, boosted considerably by a host of hid rumours that triggered big gains across a number of sectors and stocks, most notably in the life assurances.
Wall Street's discomfort stemmed from the continuing impasse over the budget deficit wrangle which has dogged US markets for some time and was partly responsible for the 100 point fall in the Dow Jones in a single session last month.
Another bearish factor to emerge during the afternoon was the resignation of the Russian foreign minister, news which unsettled the dollar and most financial markets.
Marketmakers said they had been impressed by Britain's resilience in the face of Wall Street's difficulties. One trader said: "It was a very volatile day in London, and there is a definite lack of direction, but we have done better than I had expected at the start of trading.
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