2.05pm IndyMedia says around 1,000 protestors are moving quickly up Regent Street and protesting against the World Bank. Protesters are gathering outside Nike Town in Oxford Street and giving out Monopoly money. The demonstration has remained peaceful. All the demonstrators from the anti-privatisation picnic at Elephant and Castle are now heading towards the South Bank area beside the Thames, IndyMedia reports. Protesters on cycles near Euston station are being allowed out of the cordon by police one by one, provided they give their names and addresses.
Metropolitan police say there have been seven arrests so far.
1.05pm IndyMedia reports that there have been some minor scuffles between protesters and police at an anti-privatisation picnic at Elephant and Castle, where around 300 protesters have gathered. Protesters have begun a peaceful sit-down demonstration in Oxford Street. Around 150 cyclists descend on Trafalgar Square whistling and cheering. IndyMedia reports that police have surrounded the square. Police are outnumbering protesters by 20 to one.