The FTSE is on track for its worst first quarter since 2009

Despite having climbed into positive territory today, the UK's blue-chip index is on track for its worst first-quarter performance since 2009.

The FTSE 100 is on course to have fallen 8.3 per cent in the first quarter of 2018, the worst first three months of a calendar year since the 11 per cent decline of 2009, according to data from AJ Bell.

“Data suggests the FTSE 100 is the worst performing major stock market index in the first quarter of 2018, assuming no major changes to its performance today," said AJ Bell investment director Russ Mould.

Over the same period this year, Japan's Nikkei 225 index was down just over seven per cent while Hong Kong's Hang Seng index was showing a small gain just below one per cent, Mould said.

The biggest risers were set to be Russia’s Trading System index, up 7.3 per cent, and Brazil’s Bovespa index which at the time of writing was up 11.4 per cent so far this quarter.

At the time of writing, the FTSE was up 0.47 per cent at 7,077.71.

European stocks were trading higher today after a major US tech sell-off earlier this week rippled out to international markets.

"Uncertainty is permeating throughout financial markets today, as the volatile first half of the week appears to be giving way to a more stable and hesitant second half," said Joshua Mahony, market analyst at IG.

"In a week with few notable economic indicators, it comes as no surprise that affairs over the pond continue to take precedence, whether it be the threat of a US-led trade war or a wide-ranging tech sell-off spurred by Facebook’s loose data security."

However, he noted the rise in European and Asian stocks, which "highlights the relative lack of contagion for a tech industry which is predominantly US listed".

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