FTSE 100 stabilises following 3 successive losses

Rising Asian shares have helped to stabilise the UK's blue chip index - ending three consecutive sessions of losses.

The FTSE 100 has been struggling of late and has slumped to four-week lows in the last few days.

However, Reuters reports that it closed yesterday (July 25th) "broadly flat" at 5,498.32 points.

Strong Asian shares and renewed hope over financial stimulus in the US have given traders a confidence boost, but gains have been capped by the poor economic outlook in the UK.

The Office for National Statistics released the nation's gross domestic product figures for the second quarter of 2012 and they turned out to be far worse than expected.

Most economists had predicted a decline during the three-month period, but few thought the economy would contract by 0.7 per cent.

Despite this, commodities have been trading quite steadily so far today, as copper prices have recovered from a one-month low in the previous session, while Brent crude is currently valued at $104 a barrel.