Global equity indices surged higher after China cut interest rates for the first time in four years in a bid to support growth and combat economic slowdown.

BlackRock's chief equity strategist Bob Doll is retiring at the end of the month after 34 years in the industry.

Asian stocks rose overnight after Australia's central bank cut interest rates to 3.5%, providing a boost for investors.

Gold slid over 6% last month, making it the biggest May loss for the precious metal since a near 10% fall in 1982.

PIMCO's Bill Gross has told investors they will find it difficult to repeat the performance of the past 30 years, comparing Wall Street to a food chain and Europe to a "tumour".

BlackRock's Bob Doll predicts Europe's debt crisis will remain well contained, allowing global growth to continue at a modest pace.

The government will be able to widen the scope for VCT investment after the European Commission approved its proposals.

Net retail sales of UK domiciled funds reached £2.1bn in April, the highest level since April last year and well above levels seen over the last nine months.

US stocks saw their first weekly gain since April as Greek election polls revealed support for pro-bailout parties and data showed the American housing market is stabilizing.

Royal London Asset Management has poached Insight's Azhar Hussain to head its Global High Yield team.