Some 54% of fund managers are set to increase their exposure to ETPs and ETFs over the next three years, with a quarter anticipating an increase of 10% or more.

Banking stocks across Europe were falling this afternoon, with investors fretting over Spain's ability to fund itself after yields spiked above 7% once again.

Investors have suggested the eurozone crisis has not yet reached another critical stage, despite a €100bn bailout of Spanish banks failing to prevent the country's borrowing costs reaching record highs.

Swiss central bank chairman Philipp Hildebrand, who quit over a currency trading scandal, is to join BlackRock as vice chairman in October.

London's leading share index climbed in early trading after a strong session on Wall Street yesterday.

Barclays' chief executive officer, Bob Diamond, described the underpinnings of the European economy as ‘very very strong' and said he is confident the euro region will survive.

The financial crisis and collapse in US house prices has left the average household in the States 40% less well-off, a Federal Reserve study has said.

The number of exchange-traded funds (ETFs) in Europe will continue to grow, but there are currently 241 European ETFs on a ‘death list' for profitability reasons, according to Lipper.

Equity fund managers are increasingly looking for growth over value when selecting stocks on European markets, according to Fitch Ratings.

London's FTSE 100 slipped into the red in early trading this morning after Fitch Ratings cut Spain's long-term credit rating and predicted a slump through 2013.