The FTSE 100 has again been hit by fears of a global recession.
The index of leading shares dived to 4,079 yesterday and opened this morning even lower, having dipped under the 4,000-level.
Asian markets weakened last night, with significant falls in Hong Kong (-7.6 per cent) and Japan (-11.4 per cent).
Christian Gattiker at Bank Julius Baer told the Guardian: “There’s not a lot to cheer about.”
“First we had relief when the bank guarantees were agreed, but now we have a haggling process by the banks.”
As a global financial centre, London is feeling the full force of the economic slowdown.
However, it remains a prime location for firms looking to establish themselves in new commercial property.
Companies taking offices in London benefit from the capital’s location and its international business appeal.