LONDON'S equity marked fought back well from an unhappy opening and numerous bouts of selling pressure during the day to close marginally up on the session.
The late rally followed a similar move by Wall Street, bonds, bunds and gilts, which had been unnerved by worries about the interim measures put in place to prevent a US debt default.strongly.
The lacklustre showing by the equity market early in the day came as part of a Europe wide initial retreat triggered by the overnight slide in US Treasury bonds, which fell over a point and the 26 point slide in the Dow Jones Industrial Average, which suffered in the wake of bonds.
There was also a definite German angle to much of the morning's unhappiness, with worse than expected money supply numbers tending to damage the market's already thin hopes of another cut in German interest rates, when the Bundesbank council meets in Frankfurt on Thursday.
Adding to the market's discomfiture was yet another profit warning, this time from one of Britain's former glamour stocks, J. Sainsbury.
Over the week the FTSE 100 showed a 13.7 decline, while the Mid 250 put on 12 points.
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