There was a gargantuan struggle for direction on the FTSE 100 between two of the index's big guns. While oil was on a downward spiral, the miners saved the day, with the top tier closing up 35.9 points at 5,283.31.

Citigroup, the embattled American bank, yesterday unveiled huge losses for the second year in a row. The bank said it shed $1.6bn last year after it plunged into the red in the fourth quarter, largely thanks to repaying $6bn of US government support.

Home Retail Group came under pressure last night as traders moved out amid worries that the market might be underestimating the threats to its Argos chain.

Crunchie to Crème Egg chocolate maker, Cadbury, will tomorrow unveil its formal defence document, spelling out why the future is so creamy that it doesn't need Kraft Food's £10bn hostile takeover bid which has caused a furious response.

Check out this week's issue of Legal Business magazine if you want to know what it's really like to work in a City law firm. It's Christmas quiz asks about the indentities of senior lawyers involved in some racy escapades over the past years. Among the few printable questions was: "Which top mediator bored his clients so much that, on returning to the meeting after a short break, found that they had resorted to sexual intercourse on the table?" Sadly, the magazine provides no answers.

Huge sheets of glass are guided by robotic arms, sliding and turning in a towering germ-free plant, the world's first making giant "10th generation" panels for flat screen TVs.

RBS gets another gift from ABN Amro

Royal Bank of Scotland has one more reason to regret its disastrous takeover of ABN Amro, a deal that lead to the departure of the boss, Sir Fred Goodwin. Guess where most of RBS's exposure to Dubai comes from? You got it: its Dutch subsidiary has always been a big player in the Middle East.

Legal & General fell back as the the wider market veered sharply lower last night declining by more than 7 per cent after Citigroup turned negative.

The rumour mill was in full flow surrounding International Power, the power generator which bubbled higher last night as speculators bought in, pegging their hopes on the possibility of a bid.

Capita stood out as the largest faller on the FTSE 100 index yesterday after the outsourcing company warned that it may end up bearing costs connected to two suspended Arch funds.

Liberty International led the real-estate sector higher last night, advancing to pole position on the benchmark index after a new survey sparked hopes of a recovery in commercial property values. Data from the Investment Property Databank (IPD) revealed that commercial property values had climbed by 1.9 per cent in October, compared with a 1.1 per cent rise in September. The index showed gains in all three sub-sectors, with retail property rising by 2.6 per cent, industrial property climbing by 1.5 per cent and office values growing by 1.1 per cent. Traders soon piled in, driving Liberty to 504p, up almost 4 per cent or 19p. British Land, at the number two spot on the FTSE 100, rose to 498.2p, up 2.8 per cent or 13.5p, and Hammerson gained 2.3 per cent or 10.1p to 445p. Land Securities was also strong, closing 16p higher at 726.5p.